Uncertainty surrounds a major analog chip industry consolidation as Sirius Microelectronics (Stock Code: 688536) announced on December 3rd that its stock and convertible bonds will remain suspended. The company is still advancing its major asset restructuring plan, drawing growing market attention to the fate of this industry integration.
Sirius first suspended trading on November 26th, 2025, planning to acquire equity in Ningbo Ola Semiconductor via issuing shares and/or cash, alongside raising supporting funds. Initial estimates indicate the deal may constitute a major asset restructuring, but it is not expected to involve connected transactions, alter the controlling shareholder, or qualify as a backdoor listing. Originally slated for a maximum 10-trading-day suspension, the extension signals ongoing negotiations and significant uncertainties in the transaction structure.
The acquisition has garnered intense focus due to the strong synergies between the two players in the analog chip sector. Founded in 2012, Sirius is a core player in China's analog chip market, specializing in high-performance, reliable analog chip R&D. Its products cover automotive, industrial, communications, and consumer electronics, offering comprehensive solutions backed by solid technical strength.
Target firm Ola Semiconductor, a Fabless company established in 2018, excels in analog and mixed-signal chip R&D. Its product portfolio includes clock, power management, and RF analog chips, catering to telecom, data centers, IoT, and automotive sectors. Boasting a core team with a combined 150 years of global chip design experience from renowned firms, Ola has achieved mass production of clock products and was previously listed among EEtime's 60 Most Watched IC Companies.
A successful acquisition would enable Sirius to enhance its analog chip layout and competitiveness in high-end segments like communications and data centers via Ola's technologies and product matrix. Ola, in turn, could leverage Sirius' market channels for accelerated product adoption and scaling. However, the extended suspension suggests ongoing refinements in transaction details, leaving the outcome of this potentially pattern-shifting consolidation uncertain.
ICgoodFind concludes: This acquisition is crucial for industry resource integration. Its progress warrants close attention, as we anticipate stronger breakthroughs from Chinese analog chip enterprises.
