ITASCA, Ill.--(BUSINESS WIRE)--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.
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.