Taiwanese notebook PC contract maker Wistron announced on April 29 that the company will acquire Lite-On's digital display business unit for NT$9.2 billion (US$302.0 million; US$1=NT$30.5) in cash. The deal is slated for completion in the third quarter of 2008, Taiwan's Economic Daily News reported.

With an eye on greater economies of scale and bargaining power, Wistron agreed to take over the sales, inventory, equipment, intellectual property, and personnel of Lite-On's digital display business unit, according to a Reuters report.

At the same time, Lite-On plans to participate in Wistron's private placement program, with a projected investment of up to NT$1.2 billion (US$39.4 million), aiming to consolidate the tie-up with Wistron, according to Taiwan's Economic Daily News.