Soyo Group denies PC Chips takover

The Inquirer is reporting that motherboard maker Soyo has not been taken over by PC Chips, as DigiTimes reported (and we noted) last week. There appears to be some confusion about corporate identities involved:
Soyo is traded on the Ontario stock exchange as OTCBB: SOYO and became a separate company from Soyo Computer Inc two years ago.

The Soyo Group Inc has the exclusive right to use the brand. "The brand name of Soyo will not be taken over by any third party", the company said.

Clear as mud?

Update: The Soyo Group just sent out a press release with a formal denial. I'll quote the opening bits:

ONTARIO, CA (August 10, 2004) - SOYO Group, Inc. (OTCBB; SOYO), a distributor of motherboards, computer peripheral, barebone systems and wireless networking products, today announced that a news report, which appeared in the publication DigiTimes on August 2, 2004 claiming SOYO was taken over by investors representing "Lung Teng" Electronics, a member of the PC Chips Group of China, is false.

SOYO Group, Inc., headquartered in Ontario said the story is erroneous and assures its reseller partners, distributors and customers that the business operations of SOYO Group, Inc. is unchanged.

The quality of SOYO products and services, and the use of "SOYO" brand name now and in the future are not affected, according to SOYO President Ming Chok.

SOYO Group, Inc. became a separate company from SOYO Computer, Inc in 2002 and is presently traded under the symbol (OTCBB: SOYO).

So there you have it.
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