HUIZHOU, CHINA – Chinese electronics parts manufacturer Victory Giant Technology has agreed to buy Singaporean PCB maker MFS Technology for up to $460 million.

Victory Giant will pay in cash to acquire Pole Star Limited to indirectly own MFS Technology and all its subsidiaries, with equity value worth of about $365 million and debts worth up to $95 million, according to a filing by Victory Giant in the Shenzhen stock exchange.

Acquiring the target, which makes flexible printed circuits, will diversify products and improve competitiveness for Victory Giant, which is strong in making rigid printed circuit boards, the filing said.