Shanghai Pudong Science and Technology Investment Co., Ltd. announced the acquisition of all Advanced Semiconductor Manufacturing Co., Ltd. shares held by NXP Semiconductors.

On the completion of the acquisition, Pudong Science and Technology Investment will have 27.47% of total issued shares of Advanced Semiconductor Manufacturing, making it the largest shareholder of the high-tech company.

Shanghai Advanced Semiconductor Manufacturing was founded as a Sino-Dutch joint venture in 1988, and was originally known as Philips Semiconductor Shanghai. Located in Caohejing Hi-Tech Park, Xuhui district, the company is a large-scale integrated circuit chip manufacturing company.

At present, it has product lines for 5-inch, 6-inch, and 8-inch wafers as well as one MEMS independent product line. The company focuses on the manufacturing of analog circuits, power devices, and MEMS chips, and its annual wafer capacity is about 600,000.

In 2016, Qualcomm acquired NXP Semiconductors, which at the time was the largest acquisition in the history of the semiconductor industry.