BizLink to take over industrial solutions firmPRODUCT MIX BOOST: The binding deal with Germany’s Leoni is part of the wire harness maker’s long-term diversification plan, BizLink’s Liang saidBy Chen Cheng-hui / Staff reporterWire harness maker BizLink Holding Inc (貿聯控股) on Friday announced that it had reached a binding agreement with Leoni AG to acquire the German company’s Leoni Industrial Solutions for 451 million euros (US$522.9 million) in an all-cash transaction. BizLink chairman Roger Liang, center, and other company executives attend a news conference at the Taiwan Stock Exchange in Taipei on Friday. Photo: Chen Rou-chen, Taipei TimesLeoni Industrial Solutions last year reported revenue of 430 million euros. “BizLink’s acquisition of Leoni Industrial Solutions will boost our technical and service capabilities, solidify our global scale, bring us closer to customers and gain access to new industrial customers,” BizLink chairman Roger Liang (梁華哲) said in a statement. “The acquisition brings forward our long-term diversification plan and will provide BizLink with immediate gains within multiple secular growth industries.”The Leoni Industrial Solutions deal comes after BizLink completed the acquisition of Leoni’s electrical appliance business in 2017 and Speedy Industrial Supplies Pte Ltd last year.

Source: Taipei Times October 03, 2021 15:56 UTC