Qingdao-based Hisense Group, Chinese TV manufacturer, will acquire Sharp America's television business for the North and South American markets in a deal worth $23.7 million.

According to Hisense, the deal includes Sharp's TV factory in Mexico and all of Sharp's channel resources in North and South America regions excluding Brazil.

Sharp has dismal performance for the decline in the home appliances business unit and severe losses in the solar energy business unit.

The acquisition is just one of the many steps that Hisense has made overseas. Till date, the group has seven global research centers and posted a 26 percent growth in overseas business last year.