Electronic connector and cable maker ACES Electronics expects acquisition of US-based fellow maker Genesis to generate synergy to sharply boost its 2021 revenues to NT$10 billion (US$347 million), according to company chairman Iven Yuan.

ACES will fully acquire Genesis Technology USA and Genesis Holding for US$26.9 million, with the transaction to be finished by the end of March 2021.

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', Yuan said.

Currently, ACES' products are mainly used in four areas: Industrial equipment such as UPS; cloud computing and networking/communication; automotive electronic components; notebooks, game consoles and consumer electronics, Yuan indicated.

ACES focuses on white-box clients for products used in cloud computing and networking/communication currently and hopes Genesis can help bring orders from brand clients.

ACES has seen significant demand for products used in notebooks in the wake of the coronavirus pandemic,.

ACES has obtained substantial orders for products used in drones, smart speakers, cleaning robots and smart security devices and expects significant shipment growth in 2021.

ACES chairman Iven Yuan
Photo: Ninelu Tu, Digitimes, December 2020