Foxconn to acquire chip designer Socle

Foxconn will take control of up to a 100% share of the IC design house. After the acquisition, Socle will continue to operate independently. However, it will receive a new head; Foxconn will reportedly appoint Young Liu – currently general manager of its Innovation Digital System Business Group – to lead the new Socle, according to a report in DigiTimes. With the acquisition, Foxconn strengthens its development in the IC design industry, thus being able to enhance its ODM capability, the report continues. The deal is scheduled for completion in mid-May 2014.