ASE denies mulling acquisition of Giga Solution Tweet

Advanced Semiconductor Engineering (ASE) has dismissed a recent Commercial Times report indicating it was planning an acquisition of Giga Solution Tech, which specializes in radio-frequency (RF) IC testing for power amplifiers used mainly in handset applications.

ASE, in a filing with the Taiwan Stock Exchange (TSE), said it has not approached Giga Solution, directly or indirectly, with respect to an acquisition.

The Chinese-language report cited unnamed institutional investors as saying ASE would acquire Giga Solution through a share swap.

Giga Solution reported net profits of NT$65.81 million (US$2.07 million) for the first quarter of 2010, up significantly from NT$10.3 million posted a year ago. Revenues for the quarter were NT$244.09 million, compared to NT$140.57 million in the first quarter of 2009.

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