High Tech Computer Corp. announced today that it has signed an acquisition agreement with Dopod International, one of the leading PDA Phone and smartphone distributors in Asia, to purchase the assets of nine Dopod subsidiaries, including Dopod Taiwan, Dopod Hong Kong, Dopod Singapore, Dopod Malaysia, Dopod Indonesia, Dopod Australia, Dopod Thailand, Dopod India, and Dopod Philippines.

The acquisition agreement, still subject to shareholder approval, was approved by HTC's Board of Directors on May 8, 2007, values the assets of Dopod International's subsidiaries at the sum of Dopod International's adjusted net worth at the end of second quarter of 2007, certified by CPA as of June 30, 2007. The transfer of all assets will become effective on July 1, 2007. HTC estimates that the sum will not exceed USD $14.5 million dollars. The combined marketing, sales, and service capabilities of both companies will strengthen HTC's position within the Asian market, providing consumers in the region with a comprehensive range of mobile devices and services. To maximize the synergies of the acquisition and to implement new joint business initiatives, Dopod International's entire workforce will be expected to join HTC. Dopod's vast, accumulated experience in the retail market will benefit HTC as HTC expands its brand presence in the future.

After the acquisition, HTC will unify the products under a single global brand. In the future, all of HTC's new products will be marketed under the HTC brand. However, Dopod International's current on-the-market products will still be sold under the Dopod brand name. Furthermore, to provide first-class service to existing Dopod customers, HTC will offer after-sales support to consumers who purchased products before the acquisition.

Source: HTC via Pocket PC Thoughts

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