Epistar Corporation, the leading LED epi wafer and chip maker, successfully raised US$351 million through the issuance of Global Depositary Receipts (GDR). This transaction is the largest equity deal for any Taiwanese technology companies since November 2007 and the second largest overseas fund raising from Taiwan year to date.

“Epistar will use the proceeds to strengthen its global leading position in the LED upstream industry, and showcase our strong commitment to the customers”, says B. J. Lee, Chairman of Epistar.  Epistar, which makes LED chips that light up mobile phones, notebooks, LCD TVs and eventually homes/buildings, has established significant market presence in the fast-growing LED backlight and general lighting segments. 

Epistar also announced yesterday that it has reached an agreement with Philips to amicably settle the current intellectual property disputes between the companies. Philips has granted Epistar a license under its AlInGaP LED technologies. With the license agreement, all claims and counterclaims are dismissed. The exact terms of the license will not be disclosed.