MANILA - Integrated Micro-Electronics Inc. (IMI) on Thursday said it has closed its 47.4-million euro (about P2.5 billion) purchase of a German company that manufactures touchscreen displays.

IMI bought a 76 percent stake in VIA optronics, a leading optical bonding and display solutions provider with facilities in Germany and China, the company told the stock exchange.

The acquisition allows IMI to provide automotive camera and display monitor solutions for advanced driver assistance systems.

IMI will fund the entire purchase through financing and debt.

IMI, a subsidiary of Ayala Cor, is engaged in the manufacture of semiconductors with a growing focus on electronics for vehicles including cars and motorbikes.

IMI shares were up 0.16 percent to P6.21 on Thursday. -- Report from Warren de Guzman