Taicang-based LEKIN Semiconductor Co recently announced that it has purchased the opto-electronic compound semiconductor business of LG Innotek, Korea's first electronic components company founded in 1970, local media reported on March 27.

According to the announcement, the deal includes about 10,000 patents and related equipment and technologies.

Professor Xu Qiming, CEO of the company, said the acquisition not only enriches LEKIN's resources, but will also positively impact China's opto-electronic compound semiconductor industry.

The company's new products are being developed based on the new patents and are expected to enter mass production in the second half of 2022.

LEKIN Semiconductor Co was founded in Taicang, March 2021. It was recognized as an "advanced talent company" of the Taicang High-Tech Industrial Development Zone and was in Suzhou's incubation list of unicorn companies.