SINGAPORE (Jan 5): CDW Holding, the producer and supplier of precision components, is acquiring a 95% stake in GSP Enterprise, a limited liability company established in Japan, for a cash consideration of 14.25 million yen ($168,2000).

The company will be acquired via CDW’s wholly-owned subsidiary, Tomoike Industrial (HK), following which GSP will become an indirect subsidiary of CDW.

GSP Enterprise is 100% owned by Shimizu Yoshiku, an honorary professor in Kyorin University who is also the spouse of Keio University’s late honorary professor, Shimizu Nobuyoshi. As at end March 2017, the company had both an unaudited net book value and net tangible asset (NTA) of 1.25 million yen.

The company is principally engaged in the research and development (R&D) of an antibodies library, with a total registered capital at 10 million yen.

In a Friday announcement, CDW says its acquisition of GSP Enterprise would allow the group and its subsidiaries to establish the group’s research ability on antibodies – hence helping to enhance the competitive edge of CDW’s life sciences business. As such, the group deems the transaction as one that is in its own best interest.  

CDW does not expect its acquisition to have a material impact on its financial statement for the year ended Dec 2017.  

Shares in CDW closed flat at 25 cents on Friday.