Quanta acquires 40% stake in GPS device maker RoyalTek

Quanta acquires 40% stake in GPS device maker RoyalTek

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Quanta Computer and GPS device maker RoyalTek have reached an agreement through which Quanta will acquire approximately a 40% stake in RoyalTek via a stock swap, the two companies announced recently. Under the agreement, each Quanta share will be exchanged for 1.25 RoyalTek shares, according to press releases from the companies. RoyalTek will release a total of 23.629 million shares, including an issuance of 17.85 million new shares and 5.779 millions outstanding shares from its major shareholders, to Quanta, making the notebook giant the largest shareholder of RoyalTek.