Business News
EIZO to Acquire the Monitor Business from eg-electronic GmbH
Tuesday 23. December 2008 - Eizo Nanao Corporation (TSE: 6737) and eg-electronic GmbH announced they have entered into a definitive agreement that EIZO will acquire the monitor and video-controller businesses of eg-electronic GmbH of Wolfratshausen, Germany.
The acquisition will be made through Eizo Nanao Corporations wholly-owned German subsidiary, EIZO GmbH. eg-electronic GmbH offers a broad range of high performance video-controllers and LCD monitors designed for the special requirements in Industrial Automation, Automotive, Air Traffic Control (ATC) and other specialized applications.
Yoshitaka Jitsumori, President & CEO of Eizo Nanao Corporation: “As per our Mid-Term Business Plan EIZO is committed to the expansion of our vertical market business. This acquisition affirms this commitment and opens a new vertical market; Industrial Automation and Automotive. Taking synergy from Eizo Nanao Corporation and EIZO GmbH this acquisition strengthens EIZO overall R&D power and our production capability in Germany, and further drives the market penetration of our ATC business.”
Christian v. Stülpnagel, President of eg-electronic GmbH: “In the constantly changing nature of the todays market only those with a true globally coordinated approach will be strong enough to ensure the R&D required to continue technological evolution. eg-electronic welcomes our inclusion into the EIZO group and looks forward taking synergy from EIZO to provide an even stronger offer for our partners.”