WPG (3702 TT) announces Frontek Technology Corporation, a sub-company of its subgroup, Asian Information Technology, reached the deal with a Hong Kong-based company, FlyCastle Technologies, Inc., to acquire its electronic components business in cash

Date：2011/06/27
Taipei, Taiwan

WPG (3702 TT) announced Frontek Technology Corporation, a sub-company of its subgroup, Asian Information Technology, reached the deal with a Hong Kong-based company, FlyCastle Technologies, Inc. (FlyCastle), to acquire its electronic components business in cash. WPG would enlarge the communication market penetration in China by enriching product offerings of wireless modules and components via the acquisition.

Flycastle was established in Hong Kong in 2005 with 2010 annual revenue of NT$500 million and total employees of 21. The company, has been working in Wifi/ Bluetooth/ Camera modules, and Digital TV Donegal, which is a professional technical solutions provider in greater China.

“The acquisition of Flycastle represents an excellent strategic fit to our current business, we gain great wireless communication modules with technical expertise,” said Cliff Yuan, chief financial officer and spokesperson. “Through our Asia-Pacific product marketing, technical support, back-end services and logistics platform, we are excited about potential growth opportunities once the integration is complete. We will enhance our competitive position across the region, delivering superior value to our customers.”

IR contacts：Cliff Yuan / Kathryn Chen
Tel：886-2-27068268 ext.5268/ ext.5278
Email：ir@WPGholdings.com
Corporate website: www.WPGholdings.com