The Channel logo

News

By | Tony Smith 3rd February 2005 11:24

Gainward bosses 'buy company'

Parent firm's 69% stake acquired, reports say

Gainward has confirmed that its Taiwanese parent, TNC Industrial, has agreed to sell its stake in the company to a third-party.

Yesterday, Taiwanese news site DigiTimes reported that TNC had sold the Gainward name and the graphics card company's European operation to Palit Microsystems for $1m - essentially by selling its 69 per cent stake in Gainward.

However, Gainward itself later pointed to an MBO. In a statement, Gainward Europe chief Hans-Wolfram Tismer confirmed that TNC has been "persuaded" to sell its stake in Gainward to "a new private investor group, primarily consisting of Gainward's extended management team".

Tismer told news site Xbit Labs that the investor group did not include any other graphics card companies, suggesting Palit has not acquired the parts of the business the earlier report suggested it had. That's not to say that it hasn't acquired some other aspect of the operation, or that it simply approached TNC but negotiations never proved fruitful.

Gainward's HQ will move from Taipei to Munich, a move that had already been announced, but its Far Eastern R&D groups will remain in place, the better to serve local markets. ®

Related stories

Gigabyte 'developing' dual-GPU graphics card series
VIA unveils P4 PCI-E chipsets
Intel, Nvidia were Q4's graphics chip winners
Tyan unveils nForce Pro mobos

alert Send corrections

Opinion

Privacy image

Frank Jennings

Two working parties, ministers galore... but data transfer law remains in limbo
EMC_Unity_bezel

Chris Evans

It does simplify the hardware setup, whatever it is
A microscopic view of the biometric shark skin. Pic: James Weaver

Chris Mellor

Do something and stop faffing about in the bush league

Kat Hall

International system in general needs greater transparency

Features

Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world
hacker
Mostly it's financial crime. Here's what all the cool kids' terms mean in English
Apple logo. Pic: Blake Patterson
Plenty of bumps in the 40-year road for Mac makers