Alps did not disclose how much it has paid but as a result Alp Green Devices becomes a wholly owned subsidiary of Alps Electric.
Green Devices was formed on May 17, 2010 by the spin off from Alps Electric of its magnetic materials and thin-film process technology development operations with the help of the Innovation Network Corp. of Japan investment. The purpose of the new company was to develop, manufacture and sell compact, high-efficiency power conversion and control devices that will enable the creation of a low-carbon society.
Alp Green Devices has so far engaged in development and commercialization of power electronics products. It has developed power inductors that use a proprietary material called Liqualloy and current sensors integrating magnetic materials and thin film process technology.