JPC Connectivity Unit to Acquire Majority Stake in US-Based Galaxy Electronics

MT Newswires Live

07/21

JPC Connectivity's (TPE:6197) US-based subsidiary, JPCPT, agreed to invest around $2 million against a 60% stake in Texas-based Galaxy Electronics, according to a Monday filing with the Taiwan Exchange.

Shares of the high-speed transmission interconnection and fiber optic products manufacturer were up 2% in Tuesday trading.

The company expects the transaction to be complete by Aug. 11.

The acquisition is a strategic move to expand the company's sales, design, and manufacturing of fiber optic products in the US, the filing said.

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