Taiwanese chip maker MediaTek is going to make a big announcement on Friday, May 13.
MediaTek has asked to halt trading of its stock tomorrow, May 13 pending an announcement. The chipmaker is likely announcing an acquisition, but not details have been made available by the company so far.
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Update: The MediaTek announcement is about Chinese digitial mapping company NavInfo and MediaTek's Jie Science.
Details are just surfacing and we try to wrap our heads around what the announcement means.
The MediaTek announcement will be made in a press-conference scheduled for Friday afternoon local time.
MediaTek is a fabless semiconductor company offering chips for wireless communications, HDTV, DVD and Blu-ray. The company is most known for their Helio X series multi-core smartphone CPUs including the Helio X20 and new X25. Chinese smartphone makers LeEco, Meizu and Vernee use MediaTek CPUs in their smartphones.
MediaTek's most recent acquisition was ILI Technology in April. MediaTek's forecasts that the company will grow annual revenues by 10% in 2016 from NT$213.26 billion ($6.5 Billion) last year. MediaTek is the 4th largest chipmaker in the world.
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We will update this report with whatever MediaTek is announcing on Friday the 13th.