Jabil to acquire GPS module maker Emtac for NT$150 million
May 16, 2005
US-based Jabil Circuit, a major electronic manufacturing services (EMS) company, will acquire a majority of Taiwan-based Bluetooth GPS module maker Emtac Technology for NT$150 million (about US$4.84 million), according to sources at Kaimei Electronics, Emtac's largest shareholder.
Jabil is expected to complete the acquisition before the end of this year, through Jabil Circuit Cayman L.P., a holding company registered in the Cayman Islands.
Taiwan's National Science Council (NSC) has approved Jabil's acquisition plan.
Under the plan, Jabil will be required to hire Emtac's employees and fulfill Emtac's business obligations, the NSC said in a March 23 press release. However, the deal does not include Emtac's business unit for low-temperature co-fired ceramics (LTCCs). It remains unclear if the parent company, Kaimei, a passive component maker, will take up this business.