Kyland Technology Co., Ltd. signed an agreement to acquire an additional 18.37% stake in Kyland Huasheng Technology Co., Ltd. from Beijing Zhongfa Qihang Kyland Huasheng Special Investment Fund (Limited Partnership) and CDB Technology Venture Capital Co., Ltd. for CNY 77.7 million.
December 17, 2021
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Kyland Technology Co., Ltd. (SZSE:300353) signed an agreement to acquire an additional 18.37% stake in Kyland Huasheng Technology Co., Ltd. from Beijing Zhongfa Qihang Kyland Huasheng Special Investment Fund (Limited Partnership) and CDB Technology Venture Capital Co., Ltd. for CNY 77.7 million on December 17, 2021. The consideration shall be payable within 20 days after consideration paid. Post completion, Kyland Technology Co., Ltd. will hold 90.04% while Beijing Zhongfa Qihang Kyland Huasheng Special Investment Fund (Limited Partnership) and CDB Technology Venture Capital Co., Ltd. will hold no stake in Kyland Huasheng Technology Co., Ltd. The Board of Directors of Kyland Technology Co., Ltd. has approved the transaction.
Kyland Technology Co., Ltd. is a China-based company principally engaged in the research and development, manufacture and distribution of network products for military use and industrial use. Its network products for military use and industrial use mainly include Ethernet switches, multi-media command and dispatch systems, precision clock synchronization and gateway products, as well as embedded industrial servers. The Company also provides big data services and network services, including big data analysis and mining and marketing and planning services, among others. The Company operates businesses in both domestic and overseas markets.
Kyland Technology Co., Ltd. signed an agreement to acquire an additional 18.37% stake in Kyland Huasheng Technology Co., Ltd. from Beijing Zhongfa Qihang Kyland Huasheng Special Investment Fund (Limited Partnership) and CDB Technology Venture Capital Co., Ltd. for CNY 77.7 million.