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Confirmation of Gigabyte-ASUS Joint Venture (1 Comments) (link)
 Wednesday, 9-August-2006  21:33:44 (GMT +10) - by Agg

Just received this press-release from Gigabyte: 31KB Word doc.

It's worth noting that this deal involves the creation of a new, separate, entity, with Gigabyte and ASUS both continuing to exist. Some central points:

The capital of this joint venture will be NT$ 8,000,000,000 (eight billion NT dollars). GIGABYTE Technology intends to hold 51% of the shares and ASUSTek will hold 49%. This joint venture plans to commence operating in January 2007. There will be five directors and two supervisors in this joint venture, with GIGABYTE appointing three seats of directors and one supervisor, and ASUSTek appointing two directors and one supervisor.
In this slow developing market environment, GIGABYTE seeks to establish an alliance with ASUSTek in order to assist the operation efficiency of GIGABYTE’s motherboard business. Apart from increased efficiency, GIGABYTE will have greater resources to expand their diversified business. Because of the increasingly mature nature of the motherboard industry, this joint venture will combine the resources of two leading motherboard manufacturers, allowing for a greater economical impact on the market, better research and development capabilities and elevated product quality. It is believed that this strategic alliance will create a win-win situation for shareholders, employees and customers of both companies.

Edit: and thanks to the people who pointed out the ASUS equivalent on their (currently very slow) website.

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