ACES Electronics Co., Ltd. (TSEC:3605) entered in a definitive agreement to acquire Genesis Connected Solutions on December 17, 2020. ACES Electronics Co. will acquire 100% equity of Genesis in an all-cash transaction. Genesis will officially become a subsidiary of the Company. The transaction is subjected to approval from boards of both companies and subject to certain regulatory approvals and closing conditions. As of December 17, 2020, the transaction has been unanimously approved by the boards of both companies. The acquisition is expected to close by the end of March 2021.