Industrial computer maker Ennoconn Corp (樺漢科技) on Wednesday said it is to acquire a major stake in Singapore-based Nera Telecommunications Ltd as it aims to strengthen its “Ennoconn Solution as a Service (ESaaS)” platform and expand its overseas presence.
Ennoconn — which provides hardware solutions for point-of-sale (POS) banking automation, kiosk, lottery and industrial automation systems — plans to acquire 193.17 million shares in Nera Telecommunications at S$0.075 per share from the Singaporean firm’s major shareholder, Asia Systems Ltd, the Taipei-based company said in a statement.
The 193.17 million shares held by Asia Systems represent a 53.38 percent stake in Nera Telecommunications, which was established in 1978 and has market presence in 16 countries across the Asia-Pacific region, Europe, the Middle East and Africa.
Photo: CNA
Ennoconn said it expects to complete the share purchase before the end of next month.
The company would maintain Nera Telecommunications’ listing on the Singapore Exchange and has no intentions to participate in its operations, it added.
The total value of the deal amounts to S$14.49 million (US$11.1 million), which would have no impact on its financial status, Ennoconn said.
Ennoconn posted earnings per share of NT$8.36 in the first half of the year, compared with NT$9.79 in the same period last year.
The company said that as it is enhancing its strategy for the ESaaS platform, which focuses on digital transformation, artificial intelligence, energy management and information security solutions for enterprises, the deal would help it strengthen its competitiveness and fortify its presence in Southeast Asian markets, including Singapore, Vietnam, Thailand and Malaysia.
The deal comes after Ennoconn on Aug. 6 announced that it was forming a partnership with NCR Voyix Corp, a New York-listed manufacturer of POS, ATM and barcode readers.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) would not produce its most advanced technologies in the US next year, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. Kuo made the comment during an appearance at the legislature, hours after the chipmaker announced that it would invest an additional US$100 billion to expand its manufacturing operations in the US. Asked by Taiwan People’s Party Legislator-at-large Chang Chi-kai (張啟楷) if TSMC would allow its most advanced technologies, the yet-to-be-released 2-nanometer and 1.6-nanometer processes, to go to the US in the near term, Kuo denied it. TSMC recently opened its first US factory, which produces 4-nanometer
PROTECTION: The investigation, which takes aim at exporters such as Canada, Germany and Brazil, came days after Trump unveiled tariff hikes on steel and aluminum products US President Donald Trump on Saturday ordered a probe into potential tariffs on lumber imports — a move threatening to stoke trade tensions — while also pushing for a domestic supply boost. Trump signed an executive order instructing US Secretary of Commerce Howard Lutnick to begin an investigation “to determine the effects on the national security of imports of timber, lumber and their derivative products.” The study might result in new tariffs being imposed, which would pile on top of existing levies. The investigation takes aim at exporters like Canada, Germany and Brazil, with White House officials earlier accusing these economies of
GREAT SUCCESS: Republican Senator Todd Young expressed surprise at Trump’s comments and said he expects the administration to keep the program running US lawmakers who helped secure billions of dollars in subsidies for domestic semiconductor manufacturing rejected US President Donald Trump’s call to revoke the 2022 CHIPS and Science Act, signaling that any repeal effort in the US Congress would fall short. US Senate Minority Leader Chuck Schumer, who negotiated the law, on Wednesday said that Trump’s demand would fail, while a top Republican proponent, US Senator Todd Young, expressed surprise at the president’s comments and said he expects the administration to keep the program running. The CHIPS Act is “essential for America leading the world in tech, leading the world in AI [artificial
REACTIONS: While most analysts were positive about TSMC’s investment, one said the US expansion could disrupt the company’s supply-demand balance Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) new US$100 billion investment in the US would exert a positive effect on the chipmaker’s revenue in the medium term on the back of booming artificial intelligence (AI) chip demand from US chip designers, an International Data Corp (IDC) analyst said yesterday. “This is good for TSMC in terms of business expansion, as its major clients for advanced chips are US chip designers,” IDC senior semiconductor research manager Galen Zeng (曾冠瑋) said by telephone yesterday. “Besides, those US companies all consider supply chain resilience a business imperative,” Zeng said. That meant local supply would
RSS