TPV to Acquire Philips' PC Monitor Business for US$15.4 Mln
December 31, 2008
Following a preliminary agreement announced in July, Hong Kong-listed monitor and LCD (Liquid Crystal Display) TV maker TPV Technology said on December 29 that it will spend up to US$15.4 million on acquiring IT Displays, Royal Philips Electronics' PC monitor business, Dow Jones Newswires reported. Via this transaction, TPV will take over purchasing, distributing, marketing, and selling of IT Displays products worldwide, as well as the exclusive global right to use the Philips brand for PC monitors. Philips will in turn receive royalty payments in proportion to revenues. TPV expects to hold a special shareholder meeting soon for independent shareholders' approval of the deal.