December 17, 2020 07:52 AM Eastern Standard Time
ATLANTA--(BUSINESS WIRE)--ACES Electronics Co. Ltd (A publicly-traded company listed on the -Taiwan Stock Exchange 3605) (“ACES”) a leading global supplier of high-technology interconnect solutions, and Genesis Connected Solutions, an Atlanta, Georgia based privately-held manufacturer of board- level shielding, electro-mechanical assemblies, and high speed interconnect components, today announced that they have entered into a definitive agreement under which ACES will acquire 100% equity of Genesis in an all-cash transaction, the term of which are not disclosed. The transaction has been unanimously approved by the boards of both companies, and is expected to close by the end of March 2021, subject to certain regulatory approvals and closing conditions.
“We are extremely excited about the strength of our combined product portfolio which will allows us to offer more innovative products to our customers around the world. The Genesis team brings a North American presence for ACES group to better service and add growth to our existing business.”
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“This acquisition is consistent with our strategy of continuing to expand our range of higher technology board level interconnect products to address the market demands for higher speed and higher frequency components across a wide array of hardware platforms," said Iven Yuan, ACES’ Chairman. “We are extremely excited about the strength of our combined product portfolio which will allows us to offer more innovative products to our customers around the world. The Genesis team brings a North American presence for ACES group to better service and add growth to our existing business.”
“ACES is a manufacturing leader in high precision interconnect with a strong track record of supplying high volume products for the rapidly expanding consumer mobile, 5G, automotive and cloud server markets,” said Vince Costanza, CEO of Genesis, “We are very excited about the synergies the combined companies create to deliver exceptional customer experience through high-quality and innovative solutions.”
About ACES Electronics Co. Ltd –
Aces is a world leader in high precision electrical and electronic connectors, electro-mechanical assemblies, and specialty cable products. Aces designs, manufactures, and assembles its products at 10 different R&D and manufacturing facilities in Taiwan, China, Philippines, Vietnam, and Japan. ACES has a diversified presence as leader in high growth areas of the interconnect market with annual revenue of NT$8 billion. Additional information can be found at www.acesconn.com
About Genesis Connected Solutions –
Founded in 1994 and headquartered in Atlanta, Georgia, Genesis is an interconnect solutions provider, that has designed and manufactured interconnect solutions which help major global customers accelerate and improve their system designs for enhanced performance. Genesis manufactures and markets high technology interconnect, wireless, antenna, power and high-speed cable assemblies across the consumer, IT, data communication and industrial markets. Additional information can be found at www.genesis-connected.com
ACES Electronics Co Ltd
Media
Shuyun Lee
+886 3 463 2808
Genesis Connected Solutions
Media
Gray Vallely
404-874-4474
