Lite-On IT Buys Philips' Car ODD Unit for 43mln Euros
December 29, 2006
On December 28, Taiwan's third largest ODD (Optical Disk Drive) maker Lite-On IT announced that it will acquire Philips' car ODD business for 43 million Euros (US$56.6 million; US$1 = 0.7 Euro), including a production facility in Hungary. The acquisition is expected to be completed in March, 2007. In the meantime, Lite-On IT also stated that it will buy BenQ's 49% stake in PBDS (Philips Benq Digital Storage), a joint venture between Philips and BenQ, for NT$260 million (US$7.9million; US$1 = NT$32.7). PBDS, which will be renamed as PLDS (Philips & Lite-on Digital Solutions Corporation), will focus on ODD R&D, sales, and marketing, while Lite-On IT will handle ODD manufacturing.