Silver Lake takes stake in Spreadtrum Tweet

US-based private equity investment firm Silver Lake Partners has acquired a minority stake in China-based Spreadtrum Communications, the handset solution vendor announced on Tuesday.

The Taiwan-based Chinese-language Economic Daily News (EDN) said Silver Lake has taken up 13% of Spreadtrum shares for US$40 million.

Silver Lake will also serve as a strategy partner for Spreadtrum in the development of 3G solutions, which will enable the firm to compete with Taiwan-based MediaTek for the TD-SCDMA solution market in China, the paper commented.

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