Akin Gump Advises Kingston Technology Company in Agreement with Powerchip Technology Corporation
(Los Angeles) – Akin Gump Strauss Hauer & Feld LLP represented Kingston Technology Company, Inc. in an agreement with Powerchip Technology Corporation, a Taiwanese public company, to acquire certain assets of Powerchip in a deal valued at approximately $200 million. Kingston Technology Company, Inc. simultaneously entered into a transaction pursuant to which Powerchip will provide foundry services to Kingston Technology Company, Inc. for a two-year period in a deal valued at approximately $380 million.
The Akin Gump deal team was led by Los Angeles corporate partner Paul Lin with support from a diverse team of lawyers from the firm’s intellectual property, tax, financial restructuring, antitrust and international trade practices.
In a short period of time, they were able to meet the requirements of an open bidding process supervised by Powerchip’s bank creditor consortium. Adding to the complexity of the transaction were multiple intellectual property cross licenses, significant international tax implications and the cross-border nature of the deal, including local bureaucracies, divergent legal systems and multiple languages and time zones.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP, a leading international law firm, numbers more than 850 lawyers in the United States, Europe, Asia and the Middle East.