SON, THE NETHERLANDS – Neways Electronics International has signed a letter of intent to acquire 100% of the outstanding shares of BuS Holding (BuS Group), a German EMS company with annual sales of about EUR 106 million. The deal is expected to be completed in the next few months.

BuS Group is based in Reisa, where it operates a 63,000 sq. ft. plant, and also has sites in Erfurt, Germany, and Decina, Czech Republic. The privately held firm was founded in 1991 and now employs 900 staff, including 50 developers.

The acquisition is intended to strengthen Neways’ presence in the German electronics manufacturing market, Neways said. Neways already has a site in Neunkirchen, Germany.

The firm intends to finance the acquisition with a combination of debt and equity.