Qisda Corp (佳世達) has reached a share transfer agreement with networking equipment supplier D-Link Corp (友訊科技) for D-Link subsidiary Alpha Networks Inc (明泰科技), the electronics manufacturer said.
Qisda has agreed to acquire 88.84 million Alpha Networks shares, about 16.4 percent of the company, from D-Link and its two investment units for NT$2.63 billion (US$90.22 million), it said in a regulatory filing on Friday.
Together with the 42.8 percent stake Qisda already owns in Alpha Networks, the deal would boost its holdings in the communications device maker to 60.3 percent, according to the filing.
The sell-off would give D-Link and its investment units NT$1.08 billion, which would help strengthen its working capital, D-Link said in its filing with the Taiwan Stock Exchange.
The deal also marks an exit from Alpha Networks for D-Link after a spate of board room disputes at the firms between May and June this year.
Qisda said that the deal would help it capitalize on opportunities in 5G high-speed communication development.
“By combining Qisda’s strong technology and manufacturing power with Alpha’s abilities in the network industry, we aim to seize great business opportunities in 5G high-speed development, while maintaining Taiwan’s competitiveness in the network industry, as well as expand the companies’ domestic and foreign market share,” Qisda said in the filing.
The company reported record sales of NT$17.6 billion for last month, up 25.3 percent from a year earlier, with cumulative sales in the first eight months rising 5.69 percent annually to NT$114.84 billion.
To comply with anti-trust regulations in countries where Qisda and Alpha conduct business, the share purchase must still gain approval from the fair trade and anti-monopoly authorities in those territories before completing the acquisition, Qisda said in the filing.
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