Nikon will acquire a camera business unit from Taiwanese company Fotis in a $1 billion deal, the company said on Tuesday, ending a three-year bidding war with a rival Chinese camera maker.
The Nikkor lenses that are the basis for Nikon’s new cameras are produced in Taiwan, while the company’s flagship cameras, the RX100 and RX100II, are made in China.
Nikon’s acquisition of the business unit will add to its $7.4 billion in cash, as it will also have the power to purchase camera brands such as Fujifilm, Fuji, and Sigma, the Nikkors’ maker.
The Nikkores also will be part of the company that makes cameras for Apple Inc., Sony Corp., and other manufacturers.
Nikko is seeking to expand its camera lineup, with plans to add interchangeable lens and compact cameras, such as the Nikon D5000, to its lineup.
The company has also announced a new lineup of interchangeable lens cameras, including the Nikon Coolpix DX.
Nikolai Shkarin, chief executive officer of Nikon, said the acquisition will add “great value to Nikon’s portfolio.”
“This acquisition will allow us to increase our camera manufacturing capacity to meet growing demand for cameras and expand our presence in Asia and beyond,” Shkrinin said in a statement.
Nikki has made a push in Asia for digital cameras that use high-quality sensors and sensors with low-light capabilities.
In the past year, Nikon has also acquired a camera-making business unit for a Chinese camera company and a smartphone camera-maker in Japan.
Nikola said it will pay $1 per Nikon Nikon RX100 camera unit, while Nikkoras RX100s will pay Nikon a fee of $800.
The price for the Fotits F2 camera will be about $2,000.