May 25, 2018
Notice Regarding Consideration of Capital and Business Alliance
with Critical Communications Services Company in New Zealand
JVCKENWOOD Corporation (“JVCKENWOOD”) hereby announces that it has decided to consider acquiring shares of Tait International Ltd. (“Tait International”), a wholly owned subsidiary of New Zealand-based Tait Limited (“Tait”), which is engaged in critical communications product and system businesses utilizing LMR and LTE solutions, and has entered into a Memorandum of Understanding with Tait.
JVCKENWOOD and Tait are currently considering details including the percentage of share acquisition and scope of business cooperation. Details will be announced later according to progress.
The impact of the consideration of capital and business alliance with Tait to the JVCKENWOOD’s business performance is expected to be minor.
Note: All the substantive businesses currently operated by Tait will be transferred to Tait International by the time of JVCKENWOOD’s investment in Tait International.
■Overview of Tait Limited
- Company name
- Tait Limited
- Christchurch, New Zealand
- CEO Garry Diack
- Business description
- Development and sales of critical communications equipment, software and solutions
- Public & Investor Relations Group