BRIEF: Time Interconnect buys out LUXSHARE-ICT joint venture

Cable component supplier Time Interconnect Technology Ltd. announced on Thursday that it has acquired the 51% stake held by Luxshare Precision in their joint venture Leoni Kabel for $12.7 million. After the transaction is completed, Time Interconnect will fully own the joint venture. The joint venture was established in 2024 and is primarily responsible for overseas acquisitions. In July of last year, it acquired Leoni LCS, a company that produces copper cables for transmitting power, signals, and data in automobiles. Time Interconnect stated that fully owning Leoni Kabel will help diversify its investment opportunities, reduce operational risks, and maintain growth