Tongtu Technology Acquired by Minieye Technology | Technology M&A Deal

Minieye Technology has agreed to acquire Tongtu Technology, a technology other business in China, for $4.1B. Minieye Technology acquisitions will give the buyer a 50% equity interest in Tongtu Technology, making it a non-wholly owned subsidiary upon completion. Tongtu Technology operates in technology other activities, supporting Minieye’s strategic acquisition and add on acquisition plans in China. The technology M&A is structured as an add on acquisition with a share-and-cash consideration of RMB25 million, paid via RMB20 million in newly issued shares and RMB5 million in cash, and is expected to close subject to agreement conditions.