Solomon Systech, a subsidiary of Chinese IC design house Huada Semiconductor, announced to acquire advanced mobile touch technology assets from Microchip Technology for US$23 million, according to Huada Semiconductor's press release on November 2. As part of the transaction, Solomon Systech will obtain certain maXTouch semiconductor products, equipment and patents, and a license to use the design database and a portfolio of over 500 patents related to Microchip's mobile touch product line. These mobile touch technology assets, particularly the maXTouch technology, are expected to significantly improve Solomon Systech's competence in the flexible OLED (Organic Light Emitting Diode) touch control technology. Microchip Technology also agreed to provide certain transition services to Solomon Systech. The transaction is still subject to fulfillment of certain customary closing conditions.