Local memory component company Hypertec has revealed that it intends to be taken over by European memory component vendor, Memory Card Technology (MCT). The move means MCT now has manufacturing facilities in what it sees as the world's three key markets -- the US, Europe and Asia-Pacific.
At this stage only a "letter of intent" has been signed, according to a press statement, but completion of the deal appears to be a mere formality as both parties are enthusiastic about the potential offered by such a marriage.
"This is an extremely positive step for Hypertec," said Colin Lillywhite, the company's managing director, who added that it will be business as usual if the acquisition goes through.
"The Hypertec name will remain," he said before clarifying that the merged entity, "will be the Asian arm of a new global group.
"The acquisition will result in Hypertec instantly achieving its goals of economies of scale and a more competitive price structure for its products -- something we could not have achieved through organic growth alone."
Looking to expand into the Asia-Pacific markets, John Trolle, MCT's president and CEO, said Hypertec was a logical target for acquisition due to its strong position in the local third-party memory PC market.
The press statement said that Lillywhite will remain as the regional managing director of "the newly formed company".