WastedTimes Lite-On to take over BenQ's ODD business |
| Author: | aiolos [ Mon 10 Apr, 2006 ] |
| Post subject: | Lite-On to take over BenQ's ODD business |
No, it's not a late April fool's: BenQ and Lite-On have today announced that Lite-On will acquire BenQ's optical disc drive business including BenQ's ODM customer portfolio and BenQ's technology portfolio. This will make Lite-On the second largest ODD maker in the world with 27% of the market and Hitachi-LG, Lite-On(-BenQ) and Toshiba-Samsung will together now have about 80% of the total ODD market for half-height drives. Lite-On IT will acquire BenQ's storage-related assets, including BenQ's ODM customer portfolio and the right to use BenQ's technology portfolio consisting of storage-related patents and licenses. Lite-On IT will also receive order commitments on BenQ-branded storage products. BenQ will receive approximately NT$1.2 billion in cash and acquire a 13% stake in Lite-On IT. With this transaction, BenQ will become Lite-On IT's second largest shareholder and a long-term strategic partner. Additionally, BenQ will acquire two seats on Lite-On IT's board of directors. Both companies expect to close the transaction on or about 1 June 2006. News source : CDFreaks |
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