Lens Technology eyes server cabinet business with PMG International acquisition

Lens Technology Co., Ltd. announced the signing of a Letter of Intent (LOI) to acquire 100% of PMG International Co., LTD. from its owner, Leu Song-Show, for cash and other legal considerations. The exact transaction amount and acquisition method will be determined after due diligence, audit, and valuation. This intentional agreement is not a related party transaction or a major asset restructuring.

PMG International Co., LTD., registered in Samoa, holds a 95.1164% stake in Yuans Technology Co., Ltd., a foreign-invested enterprise in Zhejiang, China, with a registered capital of $21.5 million. Yuans Technology specializes in technology services, R&D, and manufacturing of metal tools, non-ferrous metal alloys, and molds.

The acquisition aims to rapidly secure mature technology and client certifications in server cabinet businesses, including racks, slides, trays, and Busbars, alongside advanced liquid cooling system integration capabilities. This move is expected to enhance Lens Technology's core competitiveness in AI computing hardware solutions, opening new avenues in AI computing infrastructure and accelerating its transformation into a global AI hardware innovation platform. The LOI also includes a commitment for continued operational effectiveness for at least three years post-acquisition.