International Technologies Corporation to Acquire Manufacturer MPIO International of South Korea

BC-based International Technologies Corporation (ITC), a global supplier of digital audio, multimedia, home entertainment, flat screen monitors/televisions and other electronics, announced that it entered into a MoU to acquire 100% ownership of its manufacturing partner, MPIO International Co. Ltd. (MPIO) of South Korea. This transaction provides ITC exclusive ownership and rights to all MPIO manufacturing, branding and sales accounts worldwide. The purchase price was undisclosed but will include a blend of cash and equity. MPIO’s technologies include portable music players, digital voice recorders, multi function digital still cameras, MP3 encoders, multi-function hybrid digital music devices and digital NV products.