Novatek Microelectronics Corp. entered into a definitive agreement to acquire surveillance business from Faraday Technology Corporation for approximately TWD 720 million.

Novatek Microelectronics Corp. (TSEC:3034) entered into a definitive agreement to acquire surveillance business from Faraday Technology Corporation (TSEC:3035) for approximately TWD 720 million on January 3, 2017. Under the agreement, Novatek Microelectronics Corp.

(TSEC:3034) will acquire surveillance business along with related intellectual property, technology and fixed assets.