20 December 2018
JVC Kenwood Corporation has approval from the Overseas Investment Office (OIO) to invest in Tait International Ltd.
The OIO consent enables JVC Kenwood to buy 40 per cent of Tait International, which specialises in voice and data radio technology, with the option to acquire the remaining 60 per cent at a future date.
JVC Kenwood also manufactures electronic products, including car navigation systems, emergency response products and video cameras.
JVC Kenwood and Tait International intend to collaborate by leveraging their technologies, expertise and product ranges to enable them both to expand.
OIO consent was required because the asset value topped the $100 million threshold for overseas investments in business assets. The OIO was satisfied that JVC Kenwood directors have the business experience needed and are of good character, and that the company showed a financial commitment to the investment.
JVC Kenwood will report to the OIO after the transaction is completed.
Email: firstname.lastname@example.org or phone: 027 566 5251