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MiTAC to spin off its mobile communication product business

Taiwanese MiTAC Holdings’ subsidiary, MiTAC International Corporation (MIC), will spinoff of its Mobile Communication Product Business to MiTAC Digital Technology Corporation (MDT).
MiTAC Computing Technology Corporation (MCT) was first established back in 2014, its core businesses include Server, Storage Expansion, High-Performance Computing, and Data Center. To continue MHC’s long-term development strategy, MIC and MDT’s Board of Directors both approved the spinoff of MIC’s Mobile Communication Product Business, valued NTD 1.5 billion (EUR 42 million) to the newly incorporated MDT.

According to market research institution, it estimates that number of vehicles with internet connection will reach 61 million by 2020. MIC’s Mobile Communication Product Business, soon to be MDT, will provide connected car, auto electronics solutions and services worldwide through its own brands Mio, Magellan and Navman.

The company will also provide ADAS design, AI dash cam, cloud navigation system and rugged tablet to accommodate specialised off-road vehicles. By capitalising on its strengths and increasing its company value, MDT is aiming to become a significant player in the connected car and auto electronics industries.

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November 14 2017 8:30 PM V8.8.9-1