MediaTek has issued a company filing with the Taiwan Stock Exchange (TSE) that subsidiary MStar Semiconductor plans to acquire ILI Technology (Ilitek), which designs and develops displays driver ICs mainly for smartphones and other mobile devices.

MStar through its wholly-owned subsidiary Chen-Fa (transliterated from Chinese) Technology will acquire Ilitek for NT$51 (US$1.57) per share in an all-cash transaction valued at approximately NT$3.66 billion. The deal is scheduled to close in the second quarter of 2016.

Earlier in 2015, MStar completed its acquisition of Alpha Imaging Technology. Alpha was engaged in the design of chip solutions for TV and Web cameras, smartphones and driving recorders.

MStar specializes in the design of SoC solutions for TVs, LCD monitors and set-top boxes. The company became a unit of MediaTek in 2012.