Preface

In a strategic move to bolster its position in the expanding smart cockpit sector, Innolux's subsidiary CarUX has announced a pivotal acquisition. By acquiring 100% of Japan's automotive audio giant Pioneer for JPY 163.6 billion (approximately TWD 33.7 billion), CarUX aims to enhance its presence and capabilities in this dynamic market. This initiative highlights the growing trend of technological integration in automotive industries.

Lazy bag

CarUX has taken a major step by acquiring Pioneer, enhancing its smart cockpit solutions. This will significantly expand their influence in the Asia-Pacific's automotive market.

Main Body

On October 26th, Innolux Corporation (3481-TW) released a significant update via its subsidiary CarUX, announcing its acquisition of Pioneer, a renowned leader in automotive audio and multimedia systems. This acquisition, valued at JPY 163.6 billion, is set to realign CarUX's strategic market reach, particularly within the Japanese automotive supply chains where penetration had previously been challenging.

CarUX has established itself as a Tier 1 supplier focusing on integrated smart cockpit solutions. They will now leverage Pioneer's comprehensive technical capabilities in car audio, multimedia systems, and human-machine interface (HMI) software development, alongside its longstanding collaborations with major Japanese and global automobile manufacturers.

Chin-Yang Hung, Chairman and CEO of Innolux, as well as the chairman of CarUX, emphasized the strategic advantage this acquisition provides. By aligning with Pioneer's existing OEM collaborations, CarUX is positioned to swiftly broaden its market footprint, particularly enhancing its reach within the previously elusive Japanese automotive market. This maneuver is set to significantly elevate CarUX's penetration in the Asia-Pacific sector while diversifying its global business portfolio.

Hung further articulated optimism that through Pioneer's established expertise in automotive audio, CarUX could become a prominent multi-platform Tier 1 supplier. The integration of both companies' strengths will focus on advancing smart cockpit technologies, notably in visual, audio, and HMI enhancements, thus boosting CarUX's competitive edge in the global market.

The acquisition not only reflects CarUX's commitment to progressive innovation but also ensures rapid responsiveness to global OEM customer demands through the integration of worldwide R&D and manufacturing facilities. Pending approval from international regulatory authorities and subject to customary closing conditions, this acquisition marks a substantial leap forward in CarUX's strategic expansion goals. Details of the transaction remain to be disclosed publicly.

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