Asustek, Ability Enterprise Form Strategic Alliance
July 27, 2007
Taiwan-based Asustek announced its foray into the optical industry on July 24 by forming a strategic alliance with Taiwanese digital camera maker Ability Enterprise through stock swap. According to Taiwan's United Daily News, Asustek will issue 29.8 million new shares in exchange for a 13% stake in Ability. The transaction is valued at NT$2.8 billion (US$85.0 million; US$1 = NT$32.9) and is slated for completion on September 13, 2007.