CHIPONE, a company focusing on LCD displays, LED displays, and chip design, settled its headquarters in the Beijing Economic-Technological Development Area (E-town).

The company will be mainly responsible for research and development, and marketing and sales. The annual revenue of the company is expected to reach 800 million yuan ($116.45 million) in 2017.

E-Town Capital and CHIPONE jointly bought iML, a battery management and chip design subsidiary of American IC design company Exar for $150 million on Nov 10, 2016.

The cooperation of CHIPONE and iML has a bright future as the two companies have different expertise in the same area. And being one of the international advanced battery management, color calibration, and LED lightning suppliers, iML boasts worldwide customers and will help CHIPONE to increase sales globally.