Image: BDStar Website
BDStar (Chongqing) Automobile Electronics Co, a wholly owned subsidiary of China's BDStar, will purchase a 50 percent stake in Germany-based in-tech GmbH, the parent company said in an announcement posted on the website of the Shenzhen Stock Exchange on Sunday.
BDStar (Chongqing) Automobile Electronics Co will make a capital injection of 20 million euros ($22 million) into in-tech GmbH, a German company focused on electronics and software, to fund its business development, technology research and marketing when the purchase is completed. This capital transaction will take the acquiring firm's stake to 57.14 percent, the announcement said.
As a leading innovator in China's navigation and positioning sector, BDStar will benefit from this deal by improving technology and its business scale in automobile electronics and accelerating the process of internationalization.
Source: ECNS.CN
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