HONG KONG -- VTech Holdings on Monday completed its acquisition of a manufacturing facility in Malaysia owned by Pioneer Technology (Malaysia) Sdn. Bhd., a subsidiary of Pioneer Corp.

VTech paid $21.1 million for the assets, funded through internal resources.

The acquisition, which was announced May 4. strengthens VTech's contract manufacturing services unit's position as a leading professional audio equipment manufacturer. Furthermore, the addition of a manufacturing site outside of mainland China strategically expands VTech's global footprint in better serving the needs of its customers, the company said in a press release.

VTech is a CIRCUITS ASSEMBLY Top 50 provider of contract electronics manufacturing services and an OEM of handsets and learning e-toys.

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