The Hindu Business Line : MIC Electronics to buy 2 firms

The board of directors of MIC Electronics Ltd has approved the acquisition of Power Electronics Ltd, and an entertainment company engaged in lighting solutions for digital theme parks. In a statement, the company informed the BSE that it would invest in up to 51 per cent equity of Power Electronics to strengthen the LED lighting products business, and up to 74 per cent equity in an entertainment company to build LED-based digital theme parks. The decision to acquire these two companies was taken at the company's board meeting held here today. In another important decision, the company management has approved setting up of subsidiary companies in Singapore and Korea for development and marketing of LED display and lighting related products. - Our Bureau

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