Spreadtrum Communications, Inc. announced that it has acquired approximately 48.44% of the total outstanding shares of MobilePeak Holdings, Ltd. (MobilePeak), a privately held fabless semiconductor company based in Shanghai and San Diego that specializes in the design of highly integrated UMTS/HSPA+ modem chipsets. Spreadtrum acquired approximately 48.44% of MobilePeak's total outstanding shares, and provided a short-term loan to MobilePeak for the repayment of MobilePeak's outstanding convertible bridge loans, for an aggregate cash consideration of approximately USD32.58 million. Spreadtrum intends to purchase all of MobilePeak's issued and outstanding shares, and expects to complete the acquisition in the third quarter of 2011.

Source:reuters.com