Tyan investors approve merger deal with Mitac
Investors of Tyan Computer have approved a deal to merge with Mitac International, which proposed a takeover in March, according to a Tyan filing with the Taiwan Stock Exchange (TSE). Mitac, which currently holds a stake in Tyan, will be the surviving company after the merger is closed.
In its March announcement Mitac said the merger, expected to close in September, is aimed at expanding its operations and improving efficiency. According to the proposal, one Mitac share will be exchanged for 1.26 Tyan shares. Mitac is a major OEM for desktop and GPS devices. Mitac, which markets its own-brand Mio GPS devices, in March acquired Brunswick New Technologies’ GPS portable navigation device (PND) business unit, including the brand Navman. Tyan chiefly provides high-end servers, workstations and desktop systems.
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