Ping Cheng, chairman and CEO, Delta, said, “Smart buildings represent a core strategic focus for our company. Since VIVOTEK joined the Delta family, its world-class surveillance technology has become a critical pillar of our building automation solutions business. In response to the challenges and opportunities brought by rapid changes in the global market, closer integration between Delta’s Building Automation Business Group and VIVOTEK will accelerate decision-making and further enhance synergies across resources.”

Bill Lo, chairman, VIVOTEK, said: “VIVOTEK has consistently invested in R&D to lead innovation in the surveillance industry. Since becoming part of Delta, we have successfully transformed into a global AI-driven surveillance solutions provider. Upon completion of this share exchange, VIVOTEK will become a wholly-owned subsidiary of Delta, enabling more flexible utilization of the group’s global production, R&D and market resources. Through cross-domain integration and collaborative innovation, we are committed to jointly realizing a safer and more sustainable future.”

*Completion of the transaction is subject to the fulfillment of certain conditions precedent set forth in the agreement. **Calculation is based on the average closing price of VIVOTEK over 5 trading days prior to the board resolution of VIVOTEK.