Compal to acquire 69% of Arcadyan
Aug 28, 2006
Notebook manufacturer Compal Electronics announced on August 25 that the company will acquire a 69% stake in wireless broadband solution provider Arcadyan Technology, a wholly-owned subsidiary of network equipment maker Accton Technology, at NT$37 per share. Compal president Ray Chen will be assigned as chairman of Arcadyan while Arcadyan president HY Lee will retain his current position.
The share purchase will be completed between the end of the third quarter and beginning of the fourth quarter, 2006, according to Compal. Under the agreement, Compal will take four seats on Arcadyan's board of directors, while Arcadyan will keep two seats. Compal will appoint two supervisors to Arcadyan's board with a third to be appointed by Arcadyan.
Full Story - http://www.digitimes.com/systems/a20060825PR204.html