Tuesday, May 24, 2011

FCI expands industrial market presence by acquiring majority stake in Anytek

SINGAPORE: FCI, a leading manufacturer of connectors for the Data, Communications, Consumer, Automotive and Industrial markets has acquired a majority stake in Anytek, a Taiwanese manufacturer of terminal blocks.

The alliance between the two companies is the outcome of a partnership that started in 2009. Saint Yeh, founder and GM of the company, will remain a significant shareholder alongside FCI. Saint will continue to lead Anytek’s successful strategy, business model and teams.

With this transaction, FCI leverages Anytek’s prominent position in the growing terminal blocks market.

“We are very happy to welcome Anytek to the FCI family,” said Pete Curwen, corporate VP and GM of FCI – Electronics Division. “We are very impressed by the achievements of Saint Yeh and his team and look forward to supporting them to achieve their outstanding growth potential”.

“In the past two years of continuous development of our commercial relationship, we have been impressed by the scale and reach of FCI, but also and more importantly by their success in mixing a global culture with a decentralized and entrepreneurial spirit”, concludes Saint Yeh.

The transaction signing took place on May 20, 2011. Expected closing of the transaction is June 2011 subject to customary regulatory clearance.

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