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FCI gets Anytek's majority stake, expands market presence

Posted: 26 May 2011 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? industrial market? terminal blocks?

FCI has acquired a majority stake in Anytek Technology Corp. (ATC) in order to expand its industrial market presence by leveraging ATC's prominent position in the growing terminal blocks market.

A leading manufacturer of connectors for the data, communications, consumer, automotive and industrial markets, FCI signed its stock purchase agreement with Anytek, a Taiwan manufacturer of terminal blocks, last May 20, 2011 with the transaction closing date expected in June 2011 due to customary regulatory clearances.

The particulars of the agreement, including information on the volume and value of the purchased shares, were not immediately available, except that Anytek founder and general manager, Saint Yeh, will remain a "significant" shareholder in the company and will continue to lead Anytek's successful strategy, business model and management teams.

The alliance between the two companies was the outcome of a partnership that begun in 2009, and according to Saint Yeh, Anytek has been impressed by the scale and reach of FCI in the past two years that they have continuously developed their commercial relationship. "More important, (we have been impressed) by their success in mixing a global culture with a decentralized and entrepreneurial spirit," Saint Yeh said.

For his part, FCI electronics division corporate vice president and general manager, Pete Curwen, said FCI was "very happy" to welcome Anytek to the FCI family, adding that the company is "very impressed by the achievements of Saint Yeh and his team and look forward to supporting them to achieve their outstanding growth potential."

FCI maintains operations in 30 countries with 14,000 employees, posting sales of ??1.28 billion Euros in 2010, while Anytek specializes in the manufacture of terminal blocks and IC sockets with about 1,200 employees, primarily in the Shenzhen area.

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