Industrial computer maker Ennoconn Corp (樺漢科技) on Wednesday said it is to acquire a major stake in Singapore-based Nera Telecommunications Ltd as it aims to strengthen its “Ennoconn Solution as a Service (ESaaS)” platform and expand its overseas presence.
Ennoconn — which provides hardware solutions for point-of-sale (POS) banking automation, kiosk, lottery and industrial automation systems — plans to acquire 193.17 million shares in Nera Telecommunications at S$0.075 per share from the Singaporean firm’s major shareholder, Asia Systems Ltd, the Taipei-based company said in a statement.
The 193.17 million shares held by Asia Systems represent a 53.38 percent stake in Nera Telecommunications, which was established in 1978 and has market presence in 16 countries across the Asia-Pacific region, Europe, the Middle East and Africa.
Photo: CNA
Ennoconn said it expects to complete the share purchase before the end of next month.
The company would maintain Nera Telecommunications’ listing on the Singapore Exchange and has no intentions to participate in its operations, it added.
The total value of the deal amounts to S$14.49 million (US$11.1 million), which would have no impact on its financial status, Ennoconn said.
Ennoconn posted earnings per share of NT$8.36 in the first half of the year, compared with NT$9.79 in the same period last year.
The company said that as it is enhancing its strategy for the ESaaS platform, which focuses on digital transformation, artificial intelligence, energy management and information security solutions for enterprises, the deal would help it strengthen its competitiveness and fortify its presence in Southeast Asian markets, including Singapore, Vietnam, Thailand and Malaysia.
The deal comes after Ennoconn on Aug. 6 announced that it was forming a partnership with NCR Voyix Corp, a New York-listed manufacturer of POS, ATM and barcode readers.
Leading Taiwanese bicycle brands Giant Manufacturing Co (巨大機械) and Merida Industry Co (美利達工業) on Sunday said that they have adopted measures to mitigate the impact of the tariff policies of US President Donald Trump’s administration. The US announced at the beginning of this month that it would impose a 20 percent tariff on imported goods made in Taiwan, effective on Thursday last week. The tariff would be added to other pre-existing most-favored-nation duties and industry-specific trade remedy levy, which would bring the overall tariff on Taiwan-made bicycles to between 25.5 percent and 31 percent. However, Giant did not seem too perturbed by the
Foxconn Technology Co (鴻準精密), a metal casing supplier owned by Hon Hai Precision Industry Co (鴻海精密), yesterday announced plans to invest US$1 billion in the US over the next decade as part of its business transformation strategy. The Apple Inc supplier said in a statement that its board approved the investment on Thursday, as part of a transformation strategy focused on precision mold development, smart manufacturing, robotics and advanced automation. The strategy would have a strong emphasis on artificial intelligence (AI), the company added. The company said it aims to build a flexible, intelligent production ecosystem to boost competitiveness and sustainability. Foxconn
TARIFF CONCERNS: Semiconductor suppliers are tempering expectations for the traditionally strong third quarter, citing US tariff uncertainty and a stronger NT dollar Several Taiwanese semiconductor suppliers are taking a cautious view of the third quarter — typically a peak season for the industry — citing uncertainty over US tariffs and the stronger New Taiwan dollar. Smartphone chip designer MediaTek Inc (聯發科技) said that customers accelerated orders in the first half of the year to avoid potential tariffs threatened by US President Donald Trump’s administration. As a result, it anticipates weaker-than-usual peak-season demand in the third quarter. The US tariff plan, announced on April 2, initially proposed a 32 percent duty on Taiwanese goods. Its implementation was postponed by 90 days to July 9, then
AI SERVER DEMAND: ‘Overall industry demand continues to outpace supply and we are expanding capacity to meet it,’ the company’s chief executive officer said Hon Hai Precision Industry Co (鴻海精密) yesterday reported that net profit last quarter rose 27 percent from the same quarter last year on the back of demand for cloud services and high-performance computing products. Net profit surged to NT$44.36 billion (US$1.48 billion) from NT$35.04 billion a year earlier. On a quarterly basis, net profit grew 5 percent from NT$42.1 billion. Earnings per share expanded to NT$3.19 from NT$2.53 a year earlier and NT$3.03 in the first quarter. However, a sharp appreciation of the New Taiwan dollar since early May has weighed on the company’s performance, Hon Hai chief financial officer David Huang (黃德才)
RSS