ECARX Holdings Inc. announced a preliminary plan to acquire a minority interest and certain IP assets of its affiliate DreamSmart, with consideration potentially comprising cash and securities.
Key takeaways
Board approved a preliminary plan to acquire a minority interest and FlyMe OS-related IP from DreamSmart Technology Pte. Ltd., an affiliate.
Total consideration may be a combination of cash and securities of the Company and/or its subsidiaries.
The Company may seek third-party financing, including credit facilities or debt financing, to fund the transaction.
The acquisition is in an early exploratory stage with no assurance of a binding agreement or consummation.
Chairman and CEO Ziyu Shen stated the transaction strengthens long-term product and technology capabilities.