Flextronics to Acquire IDW for US$300mln in Stock
September 08, 2006
Singapore-based Flextronics and LCD maker IDW (International DisplayWorks) have reached an agreement in which Flextronics will acquire IDW in an all-stock transaction valued at US$300 million. The transaction is projected to close in the fourth quarter of 2006, after which IDW will become Flextronics' wholly-owned subsidiary, plus some 8,000 IDW employees transferred to Flextronics. Flextronics will also set up a new business unit under its Components Division to integrate IDW's LCD operations with Flextronics' camera module, TV tuner, WiFi, and TFT module assembly operations.