• IMI acquires German firm VIA optronics

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    AYALA-LED Integrated Micro-Electronics Inc. (IMI) has acquired a 76 percent stake in a German optical bonding and display solutions provider in a move seen boosting its growth and presenting more opportunities in other segments.

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    In a disclosure to the Philippine Stock Exchange (PSE), IMI said it has signed a definitive agreement with Germany-based VIA optronics GmbH (VIA) allowing for its acquisition of 76 percent of VIA for 47.4 million euros ($53.4 million, P2.48 billion).

    VIA specializes on optical bonding and display, which enhances visibility and performance of display systems for curved, plastic, 3D and large size applications especially in outdoor use.

    IMI said the acquisition is expected to be accretive to its earnings per share starting 2017. The deal will be financed through debt, and is seen to be closed in the third quarter of 2016.

    VIA founder Jurgen Eichner will retain his 24 percent ownership in the company and will serve as its managing director reporting to IMI’s chief executive officer Arthur R. Tan.

    Tan said the deal will allow IMI to strengthen its existing partnership with customers by offering complementary automotive camera and display monitor solutions for advanced driver assistance systems for its automotive segment.

    “This transaction represents a unique opportunity to accelerate IMI’s growth and broaden VIA’s opportunities by leveraging off of IMI’s global footprint and resources,” the IMI CEO said.

    IMI has a presence in the Philippines, China, Singapore, Europe and Mexico.

    For his part, Eichner said: “We announce today an exciting next chapter for VIA, as we have found the perfect strategic partner that is aligned with our values and growth ambitions.”

    “Once combined, we will have the scale to introduce our patented technology into automotive camera monitor systems for increased safety and effectivity. IMI has a great cultural fit with our organization and I am excited for our employees to benefit from the long-term prospects of being part of IMI,” he added.

    With the announcement of the deal, the PSE indefinitely suspended trading in IMI shares starting Wednesday, August 17, 9 A.M.

    Started in 1980, IMI is an Ayala Corp. subsidiary which manufactures semiconductors and electronic devices.

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