TOKYO-TDK Corp. said it bought Hong Kong-based Amperex Technology Ltd., a manufacturer of polymer lithium batteries, for $100 million.
TDK is a Japanese electronics parts maker, and TDK’s batteries are used in mobile devices. TDK said the purchase covers all the assets of ATL including cash on hand.
With the buy, the Japanese firm said it aims to gain an operating base on which to develop its materials technology in the field of energy, where it expects growth.
Amperex was established in 1999 and has 3,000 employees and net assets of $50 million. It also has manufacturing facilities in China.
