Reuters reported May 22 that Taiwan’s Yageo Corp. would acquire San Diego-based electronic components company Pulse Electronics Corp. for $740 million.
The cash deal was announced by a Yageo executive at a news conference, the news agency said.
Yageo provides resistors, capacitors, wireless components, and soft ferrite products for consumer, automotive and industrial markets, according to the company’s website.
Yageo's America division did not immediately respond to a request seeking comment.
An employee at Pulse's San Diego office said no one there was able to comment on the report.
Pulse reported net income of $34.6 million on revenue of $315 million for its fiscal year 2017, which ended Dec. 29. In fiscal 2016, the company posted a net loss of $13.9 million on revenue of $286 million.
Earlier this year Pulse Electronics acquired Egston Holdings GMBH, an Austria-based company with 1,400 employees across six facilities in Europe and Asia that provides magnetics and cable assemblies to several industries, including the automotive, industrial, power magnetics and electric vehicle markets.
Financial terms of the deal were not disclosed. Egston Holdings reported 2017 revenue of $87 million.
Mark Twaalfhoven has been Pulse's CEO since 2014. Affiliates of Oaktree Capital Management LP own the company.
Reach reporter Sarah de Crescenzo at firstname.lastname@example.org.