BizLink Holding announced that it will acquire Singapore’s Speedy Industrial Supplies Pte., Ltd., for approximately US$47 million, a deal that will bolster its production and sales force in Southeast Asia.

A press release said that BizLink’s board of directors had approved the buyout bid, and both parties were expected to have closed the deal by the end of February. Speedy’s product lines include wire harnesses and cables, PCBs and other electronics components for industrial and medical applications. It has assembly lines in Singapore and Malaysia to serve clients mostly in Europe and the U.S.

“The acquisition is expected to help BizLink expand its customer bases in the medical field and expand its product portfolios for industrial applications, while better extending its business tentacles worldwide,” the release said.

Per the website of BizLink, the company, based in the U.S. in Silicon Valley, has manufacturing bases in the U.S., Mexico, Slovakia, Serbia, Malaysia and China, the latter of which represents 65% of its production capacity. The company had relocated part of production to Southeast Asia and Mexico among other places in the wake of the U.S.-China trade dispute

BizLink was founded in 1996, and was listed on the Taiwan Stock Exchange (TWSE) in 2011. Of note, it was named to Newsweek’s 2020 list of America’s Most Responsible Companies, and Deloitte’s “2019 Asia Pacific Technology Fast 500.”