AYALA-led Integrated Micro-Electronic Inc. (IMI) has expanded its European footprint with the acquisition of German firm Via Optronics Gmbh, a leading optical bonding and display solutions provider.
IMI has signed a deal to acquire a 76 percent stake in VIA for 47.4 million euros (P2.46 billion), the electronics manufacturing services (EMS) disclosed to the Philippine Stock Exchange on Wednesday.
Company founder Jurgen Eichner will retain a 24 percent stake and continue to lead VIA as managing director, reporting to IMI chief executive officer Arthur Tan.
The acquisition is expected to add to IMI’s earnings per share starting 2017.
Part of the selling party is London and Munich-based investment firm Alpina Partners, which is selling its 55 percent interest in VIA. Alpina has been a shareholder of VIA since 2010.
VIA specializes in optical bonding, a technology that significantly enhances the visibility and performance of display systems, especially for outdoor use.
“This transaction represents a unique opportunity to accelerate IMI’s growth and broaden VIA’s opportunities by leveraging off IMI’s global footprint and resources,” Tan said.
VIA was established in 2005 and has around 290 employees across four countries. Together with its headquarters in Schwarzenbruck, Germany, VIA has research facilities and manufacturing sites in Morsdorf, Germany and Suzhou, China as well as sales offices in Florida and Taipei.