MEMSIC Announces Completion of Merger
ANDOVER, Mass., Sept. 17, 2013 (GLOBE NEWSWIRE) -- MEMSIC, Inc. (Nasdaq:MEMS) ("MEMSIC" or the "Company"), a leading MEMS solution provider, today announced the completion of the merger (the "Merger") contemplated by the previously announced Agreement and Plan of Merger, dated April 22, 2013 (the "Merger Agreement"), by and among MZ Investment Holdings Limited ("Parent"), MZ Investment Holdings Merger Sub Limited ("Merger Sub") and the Company. As a result of the merger, Merger Sub merged with and into the Company, with the Company continuing as the surviving company after the merger as a wholly-owned subsidiary of Parent.
MEMSIC Semiconductor is a world's leading MEMS technology solution provider. MEMSIC provides customers with one-stop solutions from MEMS sensor chips, software algorithms to application solutions. MEMSIC’s stable and mass-produced products include the globally unique thermal accelerometers, capacitive accelerometers, AMR magnetometers, low-power consumption Hall switches and more, which are widely used in automotive, industrial, medical, wearable, smart home, and consumer electronics applications, providing people with a more intelligent, reliable and safe technological experience by sensing the displacement and motion changes of the physical world. Sensing the beautiful life with MEMSIC. For more information, please visit www.memsic.com or follow us on WeChat and LinkedIn.