TAIPEI -- Lite-On Technology today announced the sale of the company’s camera module business to LuxVisions Innovation for $360 million in cash, plus a right to obtain LuxVision’s 10% shares.

The deal is pending certain approvals and is expected to close in the second quarter.

The deal includes the transfer of the unit's operations and assets, including inventories, equipment, personnel, technologies, intellectual properties, client and supplier relationships, and accrued warranty.

Lite-On has run the business for more than 15 years. It supplies products for mobile phones, tablet and notebook PCs, and is the major supplier to leading mobile device brands.

Lite-On said it will focus on developing new businesses, such as cloud computing, LED components and outdoor/automotive lighting, automotive electronics, biomedical technology, and industrial automation.

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