Young Optics Signs Asset Purchase Agreement with Jabil
23 July 2008
Young Optics Inc announced that their Kunshan, China, subsidiary executed an Asset Purchase Agreement with Jabil Circuit (Wuxi) Co Ltd, a wholly owned subsidiary of Jabil Circuit Inc, regarding certain optical module business for the projector industry. The agreement is expected to become effective July 30, 2008 pending government authorities' approval, upon completion of the legal asset transfer procedure. As part of the agreement Young Optics will be awarded a license for the field lens architecture used in certain optical modules, a patented technology owned by Sypro Optics, a wholly owned subsidiary of Jabil Circuit Inc.
With the asset purchased and license granted, Young Optics is committed to continue to serve existing customers and to develop and aggressively expand its optical module business by providing cutting-edge features of compact and short-throw required by projector customers.
“Jabil will partner with Young Optics to meet the needs of its customers with optical module manufacturing requirements" said Albrecht Richter, Managing Director of Sypro Optics. “Jabil will focus on our customers' requirements for highly integrated product solutions in the mobile projection and industrial/digital signage segments and rely on Young Optics as a provider of projection optics.”
According to the company, this agreement will allow Young Optics to enhance its competitive advantage and be positioned to grow its optical module business. “In addition to the optical module business, the Agreement affords YOI the opportunity to serve Jabil/Sypro with optical components and modules for a variety of products,” said Claude Hsu, President of Young Optics.
