LOYTEC to Join Delta Group for Smarter and Greener Building Automation Together
Delta Electronics, Inc., a global leader in power and thermal management solutions, and LOYTEC Group today jointly announced that Delta Electronics’ wholly-owned subsidiary, Delta Electronics International (Singapore) Pte. Ltd., has acquired shareholdings in Loy Tec electronics GmbH and Innocontrol electronics GmbH (hereinafter referred to as LOYTEC) for 72 million Euros (approximately NTD 2.6 billion) on April 28, 2016. The acquisition transaction will be carried out in two phases with an 85% shareholdings in both companies acquired first after signing the contract. Delta expects to acquire the remaining 15% shareholdings in both companies in the future.