Hyderabad-based, Mic Electronics Limited has informed that MIC Electronics Inc. USA, 100% subsidiary of the MIC Electronics, India and Latin America Futbol Corporation, USA have joined forces to create a Joint Venture company called "Sports LED Media" (SLM).

The venture was created to enter into the Lucrative LED market focusing on sports stadiums across the globe. The new company will initially focus on the soccer market in both Europe and Latin America by providing top of the line LED perimeter boards to top professional soccer teams.

Sports LED Media will immediately leverage the large teams from the parent companies to focus on Sales & Marketing, Customer Support, R&D and Manufacturing which is located in India, and coverage in both the USA and Latin America with expansion plans for Europe.

MIC Electronics Limited engages in the design, development, and manufacture of light emitting diode (LED) video displays, and electronic and telecommunication equipment. It also involves in the development of telecom software.

Company shares touched a high of Rs. 765 on the NSE after the news. The Shares of the company were last trading up Rs 37, or 5%, at Rs 760. The total volume of shares traded at the NSE was 9806. (2.32 p.m., Thursday).