Tsinghua Unigroup Ltd, an operating subsidiary of Tsinghua Holdings Ltd, and RDA Microelectronics signed a merger agreement by which the Tsinghua Unigroup will acquire all of the outstanding shares of RDA in cash. The takeover is valued around $910 million.

Tsinghua Holdings is a State-owned limited liability corporation funded by Tsinghua University. RDA Microelectronics is a fabless semiconductor company that designs, develops and markets wireless systems-on-chip and radio-frequency semiconductors for cellular, connectivity and broadcast applications throughout China.

"We are very excited to add RDA to the Tsinghua Unigroup family," said Zhao Weiguo, chairman and president of Tsinghua Unigroup. "RDA will complement our existing portfolio in consumer products, protection and support and will benefit from our vast IP library and unique access to important capital markets in China."

"It's very delightful to join in the Tsinghua Unigroup as a partner," said Vincent Tai, RDA's co-founder and its chairman and CEO.

"We believe that Tsinghua Unigroup's market position and resources will greatly promote the further development of our business," he added, "We also believe the merger will bring considerable value for the company's shareholders."

Edited by Chen Zhilin and Nigel Moffy