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Industrials

Taiwan Yageo's unit to acquire U.S. Pulse Electronics for $740 mln cash

TAIPEI, May 22 (Reuters) - Taiwan’s Yageo Corp said on Tuesday its subsidiary is acquiring U.S. electronic component design and manufacturing company Pulse Electronics for $740 million in cash.

The company believes that the acquisition will strengthen its own position in the automotive electronics market, a Yageo executive told a news conference.

Yageo provides resistors, capacitors, wireless components, and soft ferrite products for consumer, automotive, and industrial markets, according to the company’s website. (Reporting by Taiwan bureau; Writing by Jess Macy Yu; Editing by Muralikumar Anantharaman Editing by)

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