Hollysys Automation Technologies Ltd. (Nasdaq: HOLI) is acquiring Bond Corp. Pte. Ltd. for $73 million.
Bond is a Singapore holding company with subsidiaries that provide mechanical and electrical services across Southeast Asia for the engineering, project management, construction and maintenance industries.
Hollysys, based in Beijing, will pay a $16.39 million deposit, plus $5.51 million within six months, and an additional $14.6 million within 18 months. The rest of the price will be paid with stock.
The buyer provides automation and control technologies in China, Southeast Asia and the Middle East. Hollysys’ products include an industrial automation product that provides a high-speed railway signaling system, programmable logic controller, real-time management information system and other technologies.