Lite-On Technology has announced plans to acquire the remaining outstanding shares of Lite-On IT, the popular optical disc drive (ODD) and SSD (solid-state drive) maker.

Lite-On Technology, which currently holds 42.32% of Lite-On IT, will own the 100% of the company after the acquisition.

According to the deal, Lite-On will integrate Lite-On IT's resources, improve R&D capability and operational efficiency, and decrease production cost. Lite-On will also enrich its product portfolio and strengthen its competitiveness. Lite-On IT's step into SSD production could help Lite-On enter the cloud computing business.

Lite-On Technology will firstly establish a wholly-owned subsidiary, Baoyuan, specifically for the takeover. Baoyuan will undertake open purchase of the remaining Lite-On IT shares. Baoyuan will then merge with Lite-On Technology.