Utechzone Co., Ltd. (GTSM:3455) made an offer to acquire 35% stake in FAVITE Inc. (TSEC:3535) for approximately TWD 410 million on February 22, 2018. As per the transaction, Utechzone Co., Ltd. made an offer to acquire 27.7 million shares at TWD 15 per share. The Board of Directors of Utechzone Co., Ltd. has approved the transaction.

The tender offer will be successful if Utechzone Co., Ltd. obtains 5% stake equals to 3.95 million shares of FAVITE Inc. The tender offer period will end on March 14, 2018.