Delta Group acquires Loy Tec
Delta Electronics’ wholly owned subsidiary, Delta Electronics International (Singapore) Pte. Ltd., has acquired shareholdings in Loy Tec electronics GmbH and Innocontrol electronics GmbH. The acquisition will be carried out in two phases with an 85% shareholdings in both companies acquired first after signing the contract. Delta expects to acquire the remaining 15 % shareholdings in both companies in the future.
Yancey Hai, chairman of Delta Electronics, stated that M&A is part of Delta’s growth strategy. Building automation is growing rapidly and has high potential, and it is also synced with Delta’s core competencies and corporate mission for environmental protection. It is expected to play an important role in Delta’s future growth. Loy Tec is dedicated to building automation and offers integration for building management and control systems. Delta officials say they look forward to enhancing its development and global presence in building automation through this transaction.