Chartered Semiconductor Manufacturing Ltd, one of the world’s leading dedicated semiconductor foundries, has completed the acquisition of 100% of the shares in Hitachi Semiconductor Singapore Pte Ltd (HNS) from Hitachi Ltd. and Hitachi Asia Ltd, for a total consideration of around $240m in cash.

The deal is subject to a closing working capital price adjustment, under the terms of the agreement executed on 15th February 2008.

Chartered Semiconductor offers leading-edge technologies down to 65 nanometer (nm), enabling today’s system-on-chip designs. The company further serves its customers’ needs through a collaborative, joint development approach on a technology roadmap that extends to 32nm.

Chartered’s strategy is based on open and comprehensive design enablement solutions, manufacturing enhancement strategies, and a commitment to flexible sourcing. In Singapore, the company operates a 300mm fabrication facility and four 200mm facilities.