Taiwan-based EMS (Electronics Manufacturing Service) provider Lite-On announced that the company plans to acquire the remaining outstanding shares of its affiliate Lite-On IT Co. - a dedicated ODD (Optical Disc Drive) and SSD (Solid State Drive) manufacturer - according to a report by Taiwan's China Times on 31 January. The open purchase will be undertaken during 31 January and 15 March with a total cost around NT$17.4 billion (US$590 million; US$1=NT$29.552). At present, Lite-On holds a 42% stake in Lite-On IT. The acquisition is expected to enrich Lite-On's business coverage from cloud computing applications to automobile electronics, telematics, and medical equipment.