Delta Electronics Inc., a leading Taiwanese power management solutions specialist, announced Saturday that it will acquire a U.S.-based precision automation equipment supplier.
In a statement, Delta Electronics said the company will spend US$88.90 million through wholly owned subsidiary Delta International Holding Limited B.V. to acquire UI Acquisition Holding Co., the parent company of Universal Instruments Corp.
After the acquisition is completed, Universal Instruments Corp. will continue to operate normally and be led by its original management team, Delta Electronics said.
According to the company, the more than 100-year-old Universal Instruments provides automation precision solutions to a wide range of clients in the automotive, computing, medicare and precision manufacturing industries.
The transaction is expected to create substantial synergies by leveraging the two companies' research and development capabilities and global customer base, and will strengthen Delta Electronics' smart manufacturing capabilities, the company said.
"Universal Instruments has built a remarkable track record and long-lasting customer relationships in the electronics manufacturing field, which is a key focus of Delta's industrial automation business," Delta Electronics Chief Executive Officer Cheng Ping (??) said in the statement.
"By adding Universal's precision automation machine offering and leading technologies to our highly diversified industrial automation portfolio, we can offer customers total solutions capable of enhancing the productivity and carbon footprint of their production lines," Cheng said.
According to Delta Electronics, Universal Instruments owns more than 500 automation-related patents and has shipped almost 30,000 systems to its customers.
Source: Focus Taiwan News Channel