Techno Horizon to acquire Pacific Tech group companies
SINGAPORE, NNA - Techno Horizon Co. will bring under its control the corporate group led by Singaporean security and software company Pacific Tech Pte. Ltd. as the Japanese optical and electronic equipment maker is pushing to expand its overseas operations.
Techno Horizon said Monday it will fully acquire Pacific Tech, Pactech MSP Pte. Ltd., also based in Singapore, and Kuala Lumpur-based Pacific Intech Distribution Sdn. Bhd., while buying a 49 percent stake in Pacific Tech (Thailand) Co. of Thailand.
The acquisitions will cost a combined 2.4 billion yen (US$22 million), with transfers of the shares scheduled for May 12.
All the four Pacific Tech group companies are engaged mainly in sales and support business related to cybersecurity equipment and software.
They posted 4.86 billion yen in sales and 344 million yen in net profit in their combined results for the business year that ended in December 2020, according to Techno Horizon.
Listed on the Jasdaq market for startups, Techno Horizon was founded in 2010 and is headquartered in Nagoya, central Japan.
Its business centers on optoelectronics technology for operations in multiple fields such as imaging, robotics and wide-ranging information technology services.
Last year, the company bought Singaporean audiovisual equipment firm ESCO Pte. Ltd. in its expansion drive. (NNA/Kyodo)