LITE-ON Technology will transfer of the company's Camera Module Business to LuxVisions Innovation Limited.
The transaction involves the transfer of Camera Module Business's operations and assets, including the inventories, equipment, personnel, technologies, intellectual properties, client and supplier relationships, and accrued warranty. The transaction value is tentatively set as US$360 million, to be fully paid in cash, plus a right to obtain LuxVision's 10% shares, according to LITE-ON.
LITE-ON's Camera Module Business has over 15 years' operation. Its products are mainly applied to the mobile phones, tablet and notebook PCs with a worldwide customer base throughout Europe, America and Asia.
LITE-ON believes, through this transaction, the Camera Module Business will have more resources for further development.
Moving forwards, LITE-ON will continue to focus on developing the new businesses, transforming towards cloud computing, LED components and outdoor/automotive lighting, automotive electronics, biomedical technology, and industrial automation, etc.
The transfer will proceed to obtain the relevant approvals as required, with an estimated completion by 2Q 2018.