According to reports, Yageo, a leading global supplier of passive components, said that the company will acquire Pulse Electronics, a maker of automotive and heavy-duty electronics components, for US$740 million, which is Yageo’s largest transaction seeking business expansion in the United States and Europe.
The transaction was the second medium-sized bid by Taiwan Electronics in the acquisition of US companies in recent months. In addition, in March this year, Foxconn made a bid of US$866 million for the purchase of computer accessory company Belkin.
On May 22, a Yageo executive stated at a press conference that the acquisition of Pulse Electronics will strengthen Yageo’s position in the automotive electronics market, highlighting the company’s growing concern for new energy vehicles using smart technologies. According to Yageo's official website, the company provides resistors, capacitors, wireless components and soft ferrite products for the consumer, automotive and industrial markets.
After a few years of mediocre performance, Yageo stocks have recently soared, rising 7 times in the past year. In the first quarter of this year, Yageo's revenue increased by 62% year-on-year to a record 11 billion Taiwan dollars (US$368.25 million), while the company’s net profit also hit a record high.
Pulse Electronics also sells products in the wireless and wireline communications markets and in the defense industry. In January this year, the company said it won several key customers last year, including a contract to supply Tesla with products. Pulse Electronics' revenue for 2017 was $315 million, and net profit was $34.6 million.
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