Automotive electronics manufacturer MKDWELL said it agreed to purchase the parent company of Landvision Technology, a developer of artificial intelligence-enabled smart-home and Internet-of-Things products, for an aggregate consideration of $240 million.

Under the terms of the deal, selling shareholders will receive 30 million new ordinary shares of MKDWELL at an issue price of $8 each. Upon the close of the deal, the new shares will represent about 87.72% of MKDWELL's enlarged issued ordinary shares, the company said.

Landvision operates across three business lines, covering smart-home security products, including smart locks and smart door hardware, cooling appliances, and original equipment manufacturer and original design manufacturer, MKDWELL added.

Ming-Chia Huang, chief executive officer of MKDWELL, said the deal will help to evolve the company into a diversified intelligent-device group. An acting-in-concert arrangement between Huang and certain shareholders and other parties will see the CEO and certain parties acting in concert with him control a majority of MKDWELL's voting rights and remain the controlling shareholder of the company, it said.

The deal is expected to close on or around August.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 17, 2026 17:46 ET (21:46 GMT)

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