China’s TechFaith Buys Smartphone Handset Maker QiGi For About $12.5 Million
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Chinese mobile design and manufacturing company China TechFaith Wireless is buying smartphone maker QiGi, in a deal valued at $12.5 million. It will pay $500K in cash and about 4.4 million U.S.-traded shares. The number of shares issued is contingent on QiGi earning $8 million in fiscal 2010 and $10 million in fiscal 2011, it said. The two companies have jointly launched devices in the past. More details here.
Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Countries, Asia, China
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