Montage Technology (Montage; Chinese: 澜起科技; pinyin: Lánqǐ Kējì) is a publicly listed Chinese semiconductor design company that manufactures integrated circuits for cloud computing and artificial intelligence.
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Native name | 澜起科技股份有限公司 |
|---|---|
| Company type | Public |
| SSE: 688008 | |
| Industry | Semiconductors |
| Founded | May 27, 2004 |
| Founders | Howard Yang Stephen Tai |
| Headquarters | Shanghai, China |
Key people | Howard Yang (Chairman & CEO) Stephen Tai (President) |
| Revenue |  CN¥2.29 billion (2023) |
| CN¥451.15 million (2023) | |
| Total assets |  CN¥10.67 billion (2023) |
| Total equity | CN¥10.21 billion (2023) |
Number of employees | 767 (2023) |
| Website | www |
| Footnotes / references [1] | |
Background
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Montage was founded in 2004 in Shanghai by Howard Yang and Stephen Tai who studied and worked in the US. Yang was a vice president at Integrated Device Technology while Tai was member of the core founding team at Marvell Technology.[2][3]
During its first decade, Montage build a business selling analog and radio chips, DSPs, and interface transceivers. Intel Capital funded the company twice in 2006 and 2008. In June 2008, Montage registered its first memory product.[2][3]
On 26 September 2013, Montage held its initial public offering in the US and became a listed company on the Nasdaq under the ticker 'MONT' and raised US$71 million.[3]
In February 2014, short seller Gravity Research released a report on Montage with a "strong sell" rating causing Montage shares to fall almost 15%. The report stated that Montage was committing fraud and its revenue was overstated. LQW Technology Company Limited, a Hong Kong entity which Montage claims accounted for 71% of its revenue was secretly owned by an undisclosed entity that was established and owned by Montage. In response Montage stated the report lacked accuracy and denied that LQW Technology Company Limited was related to Montage.[4] Next month in March, Hedge fund Aristides Capital released a report supporting Gravity Research's assertions and had shorted Montage shares.[5]
In June 2014, Montage agreed to be taken private by Shanghai Pudong Science & Technology Investment for US$693 million. Montage was then subsequently delisted from the Nasdaq.[3][6]
In 2015, Montage attempted to acquire Pericom Semiconductor Corp and in October made an unsolicited offer of US$435 million. However Pericom rejected the offer citing financing and regulatory risks. In November, Pericom agreed to be acquire by Diodes Incorporated for US$413 million.[7]
In January 2016, Intel stated it had formed a chip venture with Montage and Tsinghua University. Tsinghua would develop a reconfigurable computing processor module and associated system software that would work with a standard Xeon microprocessor. Montage would commercialize the product for sale in the Chinese market.[8]
In May 2018, Montage reactivated fundraising. Investors included CITIC Securities and China Electronics Corporation. However the China Integrated Circuit Industry Investment Fund did not invest in it despite being related to semiconductors.[3]
On 22 July 2019, Montage was one of the first companies that were listed on the Shanghai Stock Exchange STAR Market. Between the first day of trading on Monday to Wednesday, its shares jumped 206%. Intel which still had a 9% stake in Montage from the time Intel Capital invested in it made a 528% return with its stake being worth $1.1 billion.[3][9]
In December 2023, Montage unveiled its 5th Gen Jintide lineup of processors which were repackaged Intel Emerald Rapids.[10]
See also
editReferences
edit- ^ "2023 Annual Report" (PDF). Sohu. Archived (PDF) from the original on 10 June 2024. Retrieved 10 June 2024.
- ^ a b Clarke, Peter (26 September 2013). "Intel-Backed Chinese Chip Firm Files for IPO". EE Times. Archived from the original on 7 August 2023. Retrieved 10 June 2024.
- ^ a b c d e f Platonov, Ivan (24 February 2020). "Montage Technology, China's Horse in the DDR Memory Interface Race". EqualOcean. Archived from the original on 10 June 2024. Retrieved 10 June 2024.
- ^ Meola, Andrew (7 February 2014). "Why Montage Technology Group (MONT) Is Plummeting Today". TheStreet. Archived from the original on 10 June 2024. Retrieved 10 June 2024.
- ^ "Montage Technology: The SoC You Can't See". Nasdaq. 20 March 2014. Archived from the original on 10 June 2024. Retrieved 10 June 2024.
- ^ Deng, Chao. "Shanghai Offers $693 Million for Short-Seller Target". WSJ. Archived from the original on 10 June 2024. Retrieved 10 June 2024.
- ^ McGrath, Dylan (9 November 2015). "Diodes Ups Offer for Pericom". EE Times. Archived from the original on 10 June 2024. Retrieved 10 June 2024.
- ^ Clark, Don (21 January 2016). "Intel Links Up With China in Server-Chip Venture". WSJ. Archived from the original on 10 June 2024. Retrieved 10 June 2024.
- ^ Shen, Lucinda (26 July 2019). "How Intel Made a 528% Return on China's New 'Nasdaq'". Fortune. Retrieved 10 June 2024.
- ^ Liu, Zhiye (18 December 2023). "Chinese chip designer repacks Intel 5th Gen Xeon Emerald Rapids CPUs for the domestic market — 5th Gen Jintide chips feature China-specific security algorithm tech". Tom's Hardware. Archived from the original on 16 April 2024. Retrieved 10 June 2024.