In the Southern Hemisphere, Austria Mikro Systeme International AG has bought 51% of Micro Electronic Systems Pty Ltd of South Africa, cementing the deal with free technology transfers. The other 49% is held by the state-run Industrial Development Corp.Micro Electronic is South Africa’s sole commercial producer of integrated circuits in the telecommunications industry, and Austria is considered pretty good at application-specific parts. The South African company plans to list its shares on the Johannesburg Stock Exchange within the next five years. Austria Mikro is thought to have paid at least $45m for the shareholding.
