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Google acquires Raxium, Daily M&A Market News – March 17

Google acquires Raxium to develop AR, MR products

Google has agreed to buy Raxium, a startup developing light-emitting diodes for AR and MR devices, in a purchase that could signal that Google wants to own more of the device components it makes. The value of the deal was not disclosed, and a representative for Google did not respond to a request for comment. #US stocks

Luxshare’s acquisition of Huihui Technology shares completed the delivery, increasing its shareholding to 72.18%

Luxshare Precision’s acquisition of TIME Interconnect Limited shares completed the delivery, increasing its shareholding to 72.18%

Luxshare Precision announced that LUXSHARE PRECISION LIMITED, an overseas wholly-owned subsidiary of the company, has paid HKD 1.104 billion and completed the delivery of all the underlying shares of TIME Interconnect Limited. After the completion of the delivery, LUXSHARE PRECISION holds a total of 1.38 billion shares of Convergence Technology, accounting for about 72.18% of its total issued share capital. TIME Interconnect Limited is a well-established supplier of customised interconnect solutions with more than 20 years’ experience in the industry. It expanded the business scale continuously in 2020 and 2021 covering networking cables business and automotive wire harness business. Headquartered in Hong Kong, TIME Interconnect has manufacturing facilities in Shanghai, Suzhou and Huizhou, China. #A Shares

Baoding Technology plans to acquire 63.87% equity of Jinbao Electronics for 1.197 billion yuan

Baoding Technology announced that it plans to purchase 63.87% equity of Jinbao Electronics by issuing shares as the consideration payment, and the transaction price is 1.197 billion yuan; it plans to raise no more than 300 million yuan from the controlling shareholder, which will be used to invest in the target company “7000” ton/year high-speed high-frequency board 5G (HVLP) copper foil project”, supplement the working capital of listed companies, pay intermediary agency fees, etc. After the completion of this transaction, Jinbao Electronics will become the holding subsidiary of Baoding Technology. Baoding Technology will increase the design, research and development, production and sales of electronic copper foil and copper-clad laminates, inject new impetus into the long-term development of listed companies, and enhance the profitability and asset quality of listed companies. #A Shares

Zhongao Daojia plans to acquire the remaining 30% stake in Guangdong Xunhua Electric Technology for 25 million yuan

Zhongao Daojia announced that Guangdong Zhongao Property Management, a direct wholly-owned subsidiary of the company, agreed to purchase a 30% stake in the target company, Guangdong Xunhua Electric Technology, for a total cash consideration of RMB 25 million. It is reported that the Target Group is principally engaged in the provision of smart system solution engineering services in the PRC. Upon completion of the acquisition, the Group’s equity interest in the Target Company will be increased from 70% to 100%. #H Shares

Guangxin Co., Ltd. plans to acquire 70% equity of Liaoning Shixing Pharmaceutical Co., Ltd. for 210 million yuan

Guangxin Co., Ltd. (603599.SH) announced that Anhui Guangxin Agrochemical Co., Ltd. plans to acquire a 70% stake in Liaoning Shixing Pharmaceutical Chemical Co., Ltd. for RMB 210 million in cash. Shixing Pharma is the only manufacturer of p-aminophenol in Northeast China and North China. Shixing Pharmaceutical Co., Ltd. is the drafting unit of the industry standards for o-aminophenol and o-nitrophenol. #A Shares

SupOS completed the second round of financing of 500 million yuan

SupOS, a leader in industrial Internet platforms, completed the second round of financing of 500 million yuan. This round of financing is led by Fuzhe Capital and followed by SoftBank China and other institutions. This round of financing will be mainly used for the research and development and innovation of the supOS industrial operating system platform, the improvement of the platform ecosystem and the incubation of open source and open ecosystems. #Investment

Cheryl Fu

Cheryl is adept at capturing the most topical business news and has her own unique analysis. This is rare for a young person and she's offered up some really interesting ideas since joining FirmKnow Media.

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