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ACES Electronics to acquire Genesis Connected Solutions
Taiwanese supplier of interconnect solutions, ACES Electronics, and Genesis Connected Solutions, an Atlanta, Georgia based privately-held manufacturer of board- level shielding, electro-mechanical assemblies, and interconnect components, have entered into a definitive agreement under which ACES will acquire 100% equity of Genesis
The terms of the all cash transaction has not been made public, but has been unanimously approved by the boards of both companies, and is expected to close by the end of March 2021, subject to certain regulatory approvals and closing conditions.
“This acquisition is consistent with our strategy of continuing to expand our range of higher technology board level interconnect products to address the market demands for higher speed and higher frequency components across a wide array of hardware platforms," says Iven Yuan, ACES’ Chairman, in a press release. “We are extremely excited about the strength of our combined product portfolio which will allows us to offer more innovative products to our customers around the world. The Genesis team brings a North American presence for ACES group to better service and add growth to our existing business.”
“ACES is a manufacturing leader in high precision interconnect with a strong track record of supplying high volume products for the rapidly expanding consumer mobile, 5G, automotive and cloud server markets,” adds Vince Costanza, CEO of Genesis, “We are very excited about the synergies the combined companies create to deliver exceptional customer experience through high-quality and innovative solutions.”
