Advantech M&A activity
The company is aggressively seeking M&A opportunities to enhance its capabilities in technology and software and to accelerate developments in IoT vertical market ecosystems. Advantech announced two successful M&As in 2020. Advantech KR Co., Ltd merged with Kostec Co., Ltd and Advantech Corporation (ANA) merged with B+B Smart Worx Inc. Advantech acquired a 60.0% stake in the South Korean medical display company Kostec in 2017 and completed the merger in 2020. B+B Smartworx, which maintains its headquarters in Illinois, was dissolved after the merger with ANA from December 31st, 2020.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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