Epistar Corp. and Taiwan Semiconductor Manufacturing Co. (TSMC ) announced that both companies’ Board of Directors have approved the sale of TSMC Solid State Lighting (TSMC SSL) shares to Epistar. Under the terms of the acquisition agreement, Epistar will acquire all shares of TSMC SSL held by TSMC and its subsidiary TSMC Guang Neng Investment Ltd. Epistar agreed to pay NT$825 million, or NT$1.46 per share. Following the purchase, Epistar will own 94% of the company, and TSMC will be completely divested from TSMC SSL . Epistar and TSMC SSL’s current team will operate the company. TSMC noted that TSMC SSL recently developed LED lighting products using a unique Phosphor-on-Die (PoD) chip-scale packaging technology. Epistar says that once TSMC SSL joins Epistar, its diverse personnel and mangement systems inherited from the foundry business will accelerate Epistar’s innovation.