Helios Technologies, a motion control, and electronic control specialist has prospered the insights of a definitive agreement with conglomerates over acquiring key assets. The company’s officials have claimed that Joyonway has got the cutting edge over its competitors and the deal could be finalized as early as this week.
The pact between Helios Technologies and Shenzhen Joyonway Electronics & Technology Co., Ltd and its related entities has been acceded to acquiring parts of assets regarding the electronic control systems. Joyonway, which has been in the industry for years, currently operates in two cities, Shenzhen and Dongguan. The cities comprise the top-notch hub in the tech advancements and software developments across China.
The company is associated with the health and wellness industry to embed their requirements within a short span as persistent checks need to be validated before supplying the end product to the designated hospital infrastructure. The company’s processes get engaged in developing control panels, software, systems, and accessories mainly manifested to the healthcare system in China.
“This is an excellent demonstration of our flywheel acquisition strategy. With the addition of Joyonway, we cost-effectively expand our electronic controls platform with more capabilities, strengthen our supply chain through broader geographic reach, increase our manufacturing capacity to meet growing global demand with the opportunity to improve our margins over time,” says Josef Matosevic, the Helios Technologies President and CEO, in a press release.It believes that the current acquisition could lead the company towards dominating the markets for intelligent products.