Electronics Production | July 30, 2008
Young Optics in asset purchase<br>agreement with Jabil
Young Optics' China subsidiary executed an asset purchase agreement with Jabil Circuit (Wuxi) Co, Ltd., a wholly owned subsidiary of Jabil Circuit, regarding certain optical module business for the projector industry.
The agreement is expected to become effective July 30, 2008 pending government authorities' approval, upon completion of the legal asset transfer procedure. As part of the agreement Young Optics will be awarded a license for the Field Lens architecture used in certain optical modules, a patented technology owned by Sypro Optics, a wholly owned subsidiary of Jabil in Germany. With the asset purchased and license granted, Young Optics is committed to continue to serve existing customers and to develop and aggressively expand its optical module business by providing features of compact and short-throw required by projector customers.