Tsinghua to Buy Spreadtrum Communications for $1.78 Bln

Tsinghua Holdings has agreed to buy Spreadtrum Communications for $1.78 billion or $31 per ADS. Spreadtrum's board has approved the merger. Spreadtrum, of China, is a fabless semiconductor company that develops mobile chipset platforms for smartphones, feature phones and other consumer electronics products. Tsinghua Holdings is backed by Tsinghua University in China.

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