Quick Note - Bizlink (3665 TT) (Buy) - Bizlink to acquire Interplex Datacom

研报英文原文证据摘录

Quick Note - Bizlink (3665 TT) (Buy) - Bizlink to acquire Interplex Datacom

Global Markets Research

Bizlink 3665.TW 3665 TT 10 June 2026

EQUITY: TECHNOLOGY

RatingBizlink to acquire Interplex Datacom Remains Buy

Target price TWD 3,200.00 RemainsQuick Note

Closing priceBizlink announced on 10 June (link) that the company will acquire Interplex Datacom 9 June 2026 TWD 2,155.00

(unlisted) for USD850mn [currently 100% owned by Blackstone (BX US, Not rated)], with

up to USD50mn as contingent consideration based on Interplex’s future operating

performance. The payment will be supported by cash and committed debt financing. Research Analysts

According to the announcement, the acquisition will be completed by 2H26E and Interplex Taiwan TechnologyDatacom will be consolidated into Bizlink’s financial statements. Interplex Datacom

Kenny Chen - NITBfocuses on product design and precision metal processing, with end applications including kenny.chen@nomura.com

AI datacenter infrastructure, semiconductor, and medical. Interplex is headquartered in +886 2 21769978

Singapore, with manufacturing sites located in Thailand, Malaysia, China and Vietnam.

We are positive on the deal from a few aspects: 1) the acquisition brings about rapid

market share gain and earnings contribution: we believe the acquisition should help

Bizlink gain market share in AI datacenter’s power cabling and other component markets

rapidly. Bizlink has a leading position in power whips and busbars in AI servers both in

GPU and ASIC-based platforms, in our view. According to management, Interplex’s 12-

month trailing revenue as on 31 March 2026 was USD392mn (13%/9% of our estimate of

Bizlink’s 2026F/27F total sales). We estimate the deal should contribute at least 8% to our