ITASCA, Ill.--(BUSINESS WIRE)--May 20, 2016--
Knowles Corporation (NYSE: KN), a market leader and global supplier of
advanced micro-acoustic, audio processing, and specialty component
solutions, today announced that it has entered into a definitive
agreement with Loyal Valley Innovation Capital to sell its mobile
consumer electronics speaker and receiver product line. The sale remains
subject to regulatory approvals and is expected to be completed by the
end of the second quarter of 2016. Financial terms of the transaction
were not disclosed.
About Knowles
Knowles Corporation (NYSE: KN) is a market leader and global supplier of
advanced micro-acoustic, audio processing, and specialty component
solutions, serving the mobile consumer electronics, communications,
medical, military, aerospace, and industrial markets. Knowles uses its
leading position in MEMS (micro-electro-mechanical systems) microphones
and strong capabilities in audio processing technologies to optimize
audio systems and improve the user experience in smartphones, tablets,
and wearables. Knowles is also the leader in acoustics components used
in hearing aids and has a strong position in high-end oscillators
(timing devices) and capacitors. Knowles’ focus on the customer,
combined with unique technology, proprietary manufacturing techniques,
rigorous testing and global scale, enables it to deliver innovative
solutions that optimize the user experience. Founded in 1946 and
headquartered in Itasca, Illinois, Knowles has employees in 15 countries
around the world. For more information, visit knowles.com.
About Loyal Valley Innovation Capital
Loyal Valley Innovation Capital (LVIC) is an investment company based in
Asia founded by Mr. Andy Lin, the founder and former CEO of China
Universal Asset Management Company ("CUAM"). Andy Lin founded CUAM in
2004 and led it to become a top asset manager in China with USD 70
billion under management. Under his leadership, CUAM's flagship fund
achieved a 28.4% annualized return in 11 years. LVIC's investment
philosophy is long-term value investing with in-depth and continuous
improvements. Since its inception, LVIC has focused on investing in
companies that bring quality life to people, including Didi, Sunshine
Insurance and Funage etc. The investment management team of LVIC has
extensive experience in global consumer electronic supply chain.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160520005411/en/
Source: Knowles Corporation
Financial Contact:
Mike Knapp
Knowles Investor Relations
Phone:
(630) 238-5236
Email: mike.knapp@knowles.com
or
Media
Contact:
Roxanne Pipitone
Knowles Communications
Phone:
(630) 238-5257
Email: roxanne.pipitone@knowles.com