Memory module firm Transcend Information has acquired an office building in Taipei, Taiwan for a total of NT$2.37 billion (US$80.7 million), according to a company filing with the Taiwan Stock Exchange (TWSE).

The addition of the new office building is to respond to requirements for future operations, Transcend said. The new building is adjacent to the company's headquarters.

Transcend has posted revenues of NT$4.8 billion (US$163.4 million) for the first quarter of 2018, down 15.7% on year.

Transcend reported net profits of NT$2.66 billion on consolidated revenues of NT$21 billion for 2017. The profits and revenues represent on-year decreases of 7.9% and 5.2%, respectively. Despite the revenue and net profit drops, Transcend's operating profits for the year increased 20.9% to NT$4 billion, while gross margin climbed 4pp to 26.4%.

Transcend has in recent years focused less on standard DRAM modules and consumer flash devices, but more on industrial control and other niche-market products.