Taiwan-based connector and cable maker Aces Electronics will acquire a 100% stake in US-based Genesis Technology USA and Genesis Holding each at US$26.9 million, with the transaction to be finished by the end of March 31, 2021, according to ACES.

Genesis' high-speed and high-power connector and cable product lines, technologies and client bases in the US and Europe are highly complementary to Aces', Aces said. Through the acquisition, Aces hopes to integrate its R&D capability with that of Genesis to enhance international competitiveness as well as capitalize on Genesis' business relations to win orders from international enterprises and strengthen cooperation with US-based clients, Aces noted.

Increasing application of 5G and AI technologies has pushed for fast growing demand for high-speed transmission of data in large volumes and consequently, reliance on quality of transmission speeds and signal connection is increasing, Aces indicated.

For application of 5G, Genesis has developed several new product lines, mainly high-speed board-to-board connectors with PCIe Gen 5 specification, SlimSAS connectors and cables, QSFP-28 and QSFP-DD 400G high-speed cables, antenna modules for IoT and industrial application, and EMI (electromagnetic interference) shielding cans, Aces noted.

Aces has a total of 10 factories that are located in China, Taiwan, the Philippines and Vietnam. The company has reported consolidated revenues of NT$731.1 million (US$25.3 million) for November, rising 6.78% on month and 0.73% on year, and those of NT$7.349 billion for January-November, growing 10.85% on year.