Alps Electric buys back control of Green Devices spin-off

July 29, 2016 // By Peter Clarke
Alps Electric Co. Ltd. (Tokyo, Japan), a maker of electronics components and infotainment systems, has acquired all the shares in Alps Green Devices Co. Ltd. held by Innovation Network Corp. of Japan (Tokyo, Japan).

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.