Asia Express - Display
Innolux to Acquire Jemitek for US$9.6mln
November 24, 2006
Taiwanese LCD (Liquid Crystal Display) maker Innolux Display announced plans to buy out Jemitek Electronics, an unlisted small-to-medium LCD module designer, through share exchange. The exchange ratio will be one Innolux share for 3.66 Jemitek shares, totaling approximately NT$314 million (US$9.6 million; US$1 = NT$32.8). Innolux will be the remaining company following the completion of transaction, slated for March 1, 2007. Innolux Display currently provides panels to international brands such as Nokia and Motorola, while Jemitek Electronics' customer base mainly consists of Taiwanese brands and channel players, including Asus, Arima, and Inventec.