Tue, Jul 16, 2013 - Page 13 News List

Lite-On to buy US power solutions firm

SYNERGY:The acquisition of Power Innovations is expected to strengthen Lite-On’s UPS technology, power management and system integration, the company said

By Kevin Chen  /  Staff reporter

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.

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