Beijing-based BOE Technology Group has acquired a controlling stake in Hong Kong and Singapore-listed TPV Technology, the world's second-largest manufacturer of PC monitors. BOE will become the largest shareholder in TPV after buying a 26.4 per cent stake for US$135m.
The deal is the latest move in BOE's expansion in the thin film transistor liquid crystal display (TFT-LCD) market. The firm acquired Hydis, the world's ninth-biggest TFT-LCD maker from South Korea's Hynix Semiconductor for US$380m in February. The technology from this deal is to be used in a US$500m Beijing plant that will manufacture fifth-generation TFT-LCDs.