SECO signs two acquisition deals in Asia
Qiyang would add hardware engineers and customers; buying Fannal’s remaining shares would give SECO full ownership of an existing subsidiary. Both deals still need to close.
SECO S.p.A. has signed agreements to buy 60% of Qiyang Technology and the remaining 45% of Fannal Electronics. Announced on 2 November 2026, the deals would expand its Asian business. SECO supplies computers and software that help equipment makers process data close to their machines.
Qiyang develops hardware for industrial automation, robots, energy equipment and other applications. SECO plans to combine Qiyang’s engineering team with the group’s existing production in Asia-Pacific, giving customers more local development support. The agreed price is €9 million in cash at completion, plus up to €3 million if future revenue targets are met.
Fannal makes touch displays and interfaces for operating equipment. SECO already owns 55% and has controlled the business since 2019, so the purchase would change how its earnings are shared. The €23 million price is payable in three instalments by the end of 2027, with a performance-based adjustment and a possible additional payment.
Both purchases still need to meet closing conditions. They follow SECO’s recent refinancing, although the announcement does not say whether the new bank facility will fund them. SECO plans to discuss the transactions further with its nine-month results on 9 November.