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Taiwanese manufacturer buys Power Innovations of American Fork

Published July 16, 2013 1:01 pm

This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

A Taiwanese manufacturer of optoelectronic components has agreed to buy Power Innovations International Inc. in American Fork.

Lite-On Technology will buy Power Innovations in an all-cash deal. Other terms weren't disclosed.

Power Innovations was established in 1997. The company develops power quality and management products.

The company says its business has been growing at a 40 percent rate in recent years. It will remain in American Fork.

Customers include commercial, military, government, oil exploration and homeland security clients.

Lite-On was founded in 1975. It was the first company in Taiwan to produce light-emitting diodes, or LEDs. The company is publicly traded on the Taiwan Stock Exchange.