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.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS