OVERSEAS INVESTMENT:
Ennocon said that the deal would help the company strengthen its competitiveness and fortify its presence in Southeast Asian markets
By Chen Cheng-hui / Staff reporter
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.
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Ennoconn to acquire major stake in Singapore’s Nera
