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Subsequent Event
6 Months Ended
Jun. 30, 2014
Subsequent Event

Zetex (Chengdu) Electronics Co., Ltd (“ZCEL”) was established in 1995; in which one of the Company’s subsidiaries became a 33% equity owner of ZCEL.  The Company has historically treated the investment under the equity method of accounting.  On July 7, 2014, the Company increased its equity ownership in ZCEL to 95% when it paid $4 million for an additional 62% of equity.    

The Company purchased the additional equity from a subsidiary of our joint venture partner, Chengdu Ya Guang Electric Company Limited, with whom the Company established a semiconductor manufacturing facility for surface-mounted component production, assembly and test in Chengdu, China and who owns 5% of the joint venture.

The Company acquired the additional equity in ZCEL to secure local plating services for its joint venture manufacturing facility in Chengdu, China where the Company can have its plating services completed locally.  The Company intends to account for the additional equity purchase as a business combination achieved in stages and will consolidate ZCEL as of July 1, 2014, which is not materially different from July 7, 2014.