Taiwanese company Advantech is to acquire the UK business Innocore Gaming for £3.34 million.

Taiwanese computer hardware company Advantech has agreed to acquire the UK business Innocore Gaming for £3.34 million.

Edward Price, managing director of Innocore, comments that the combined engineering research and development team of more than 600 people will allow the company to expand its range of products as well as taking on new custom projects.

Upon completion of the deal, Innocore Gaming will be rebranded Advantech-Innocore and will continue to be led by Price.

Newcastle-based Innocore was founded in 2007, and designs and manufactures hardware and software for the computer gaming industry. The company also has offices in the US, Netherlands and Taiwan, and has partnerships with companies including Intel and Microsoft. In 2009 Innocore declared an operating profit of £400,000 on a turnover of £5.3 million.

Advantech produces computer hardware such as motherboards and power units. The company was founded in 1983 and currently employs around 4,500 staff worldwide. In 2009 the company had a market cap of US$1.1 billion (£678 million) and in 2008 it declared turnover of $528 million.