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ABIT Rises From The Ashes

ABIT Rises From The Ashes news post from TweakTown's online news computing and technology content pages
By: Steve Dougherty | Posted: Mar 22, 2006 4:13 am

ABIT have just issued out a press release letting everyone know they're finally back on their feet with production in full swing once again, this with the financial support of company "USI" after they merged late last year.


Grab the announcement here for all the details.


21 March 2006 - Today, ABIT Computer Corporation and Universal Scientific Industrial Co. Ltd. (USI) completed the transfer of the ABIT motherboard brand and related intangible assets to a new joint venture company established by both ABIT and USI. The new company, registered as Universal ABIT Co., Ltd., will tender a consideration consisting of NT$350 million in cash, 20 million units of special shares, and 5 million units of warrants to purchase the above mentioned intangible assets of ABIT, including patents, trademarks, et-cetera. With the new partnership, ABIT receives a strong financial backing from which to continue its core business, and also eliminates the financial straits which began late Q4 2004.


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