The US company has reported more than 40 percent growth in annual sales over the past few years to about US$8 million to US$10 million, Wang said.
“I believe Power Innovations can become a strong, high-performing asset for Lite-On,” Mount said in the statement.
Lite-On announced the acquisition plan after the stock market closed. Its shares were unchanged at NT$52. The stock has risen 34.89 percent so far this year, outpacing the TAIEX, which advanced 7.21 percent over the same period.