BRIEF: iMotion pursues German automotive electronics acquisition

1274.HK
Baidu does infrastructure

Smart car technology company iMotion Automotive Technology (Suzhou) Co. Ltd. (1274.HK) said on Friday it has offered to acquire a German “premium developer and series supplier in the field of highly safety relevant electronic systems and power electronics in automotive, aviation and renewable energy.”

“The company sees great potential in a combined business with the target company, which will enlarge and enhance the business offering of the company in safety-relevant electronic systems and power electronics products and solutions,” iMotion said, without disclosing the target company’s name. It added the target company’s client base includes global premium OEM and Tier 1 customers.

iMotion also didn’t provide an offer price, but said that a potential future agreement “may constitute a notifiable transaction” under Hong Kong Stock Exchange rules. The company’s shares opened up 4.3% on Monday but later gave back all the gains and were down 0.5% in afternoon trading.

By Doug Young

To subscribe to Bamboo Works free weekly newsletter, click here

,
,

Related Articles

RELATED ARTICLES

  1. iMotion Automotive Technology capitalizing on the DeepSeek moment to raise new funds, a second share placement within three months
    iMotion Automotive rides DeepSeek fever to new fundraising
    1274.HK
  2. BRIEF: iMotion Automotive replaces auditor
    1274.HK
  3. Horizon’s lead grows in smart driving race with new product rollouts
    9660.HK
  4. Pateo Connect revs up for IPO, belching widening losses and slumping margins
  5. BRIEF: iMotion raises $10 million in share placement
    1274.HK
  6. BRIEF: JD.com revives talks to acquire German retailer Ceconomy
    9618.HK JD.US
  7. Black Sesame emerges as dark horse in driving technology race
    2533.HK
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Illustration of the rebound of Chinese fintech lenders

A fintech lender rebound, and a hotel mess

Fintech lenders are entering a new golden era, with Jiayin reporting 46% growth for its core consumer lending business in last year's fourth quarter and forecasting similar gains this year. What's driving this rebound? And hotelier H World is still trying to fix a German acquisition from 2019 that wiped out its profit in the fourth quarter of last year. Will the Chinese hotelier be able to turn around this money-losing offshore asset?
JFIN.US HTHT.US