January 11, 2010 (FinancialWire) — Integrated Silicon Solution, Inc. (NASDAQ: ISSI) said it has formed a separate business unit focused on its application specific standard product, or ASSP, business that includes its EEPROM and SmartCard products.

The new business unit, which will operate under the name of Giantec Semiconductor, Inc., plans to develop and market EEPROM, SmartCard, and analog power management devices. Giantec is headquartered in Shanghai, China.

As part of this formation, Shanghai Zhang Jiang Science & Technology Investment committed to invest $3.75 million in Giantec, according to Integrated. ISSI said will still own more than 50 percent of Giantec after this investment and, as such, will continue to consolidate the financial statements of Giantec.

San Jose, California-based ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits. The company has offices in Taiwan, Japan, Singapore, China, Europe, Hong Kong, India, and Korea.

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