By Li Panpan

China's leading analog chip IDM company Shanghai Belling (上海贝岭) announced on March 28 its plan to acquire 100% of Shenzhen Syta Technology (矽塔科技) with RMB360 million ($56.6 million), 1241.89% higher than its netbook assets as of last September. 

Belling said the acquisition would enhance its R&D strength in motor driver chips and enrich its product line. 

Established in 1988 and listed in 1998, Shanghai Belling is the first Sino-foreign joint venture and the first listed company in the IC industry in China. Its 2021 annual report said that its net profit attributable to the parent company was RMB729 million ($114.61 million), a year-on-year increase of 38.12%.

Syta Technology is engaged in the R&D and sales of motor drives and motor control chips. It achieved an operating income of RMB39.8194 million ($6.26 million) and a net profit of RMB17.8136 million ($2.8 million) during the first nine months of 2021. 

Belling said with the MCU's product line from its shareholder Huada Semiconductor (华大半导体) and its businesses in power management chips and MOSFET power chips, the acquisition will complete its ability to provide clients with motor control drive system solutions and improve its IC product ecosystem.