The board of directors of Asustek Computer approved on December 9 a plan to take up 100% of the outstanding common shares of IPC maker Aaeon Technology via a subsidiary which will carry out the investment through an open tender for a total of NT$5.3 billion (US$175.64 million) or NT$57.50 per share.

The offer represents a premium of 8.3% over Aaeon's average closing price for the past 30 sessions. The tender offer will be executed from December 10, 2010 to January 21, 2011, Asustek said.

The investment is part of Asustek's development of cloud computing solutions, noted Asustek.