Lite-On Technology has announced adjustments to its planned merger with Lite-On IT. As of May 7, 2013, Lite-On Technology has obtained 93.76% of Lite-On IT shares. According to regulations, Lite-On IT will be delisted and 50 days from the delisting date, Lite-On Technology will buy all the remaining shares.
Lite-On Technology noted that after the merger, resources of the two firms will be combined and strengthened.
Leotek, a subsidiary of Lite-On Technology, has secured LED street lamp projects from the Taipei municipal government and has completed installation in the northern and western area of the city, according to Lite-On Technology.
Leotek also obtained LED street lamp projects from other cities in Taiwan, totaling 46,000 street lamps.
