Business

Taiwanese Company Acquires Norwegian Power Enterprise

Taiwanese computer power manufacturer Delta announced that its subsidiary Deltronic B.V. will acquire the entire stake in Eltek ASA, a Norwegian power management and sales company, for NOK3.9 billion, which is about CNY3.3 billion.

Delta's chairman Yancey Hai and chief executive officer Ping Cheng jointly announced the news. Hai said that power electronics is the core business of Delta. As a power design company Eltek ASA mainly develops businesses in Europe, America, and emerging markets like Africa; while Delta focuses on Asia and America. With the acquisition, the two parties will be complementary in channel and sales sectors. According to Hai, acquisition will be one of Delta's development strategies in the future.

Cheng said that Eltek ASA's major product is system power, which is different from the product strategy of Delta. So the two parties can also be complementary in products. Cheng also revealed that the company has been planning acquisitions since last year.

Public files show that the Norwegian power company Eltek ASA is engaged in providing power and energy solutions to industrial users. It has operations in over 100 countries and regions around the world, covering telecom, railway, and infrastructure. The company owns a large amount of power-related patents.


Image Credit: xtock

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