On 4 July 2022, Hubei Xingji Technology Co., Ltd. (Xingji Technology) held a signing ceremony for its strategic investment in Zhuhai Meizu Technology Co., Ltd. (Meizu Technology) in Hangzhou, officially announcing that Xingji Technology acquired a 79.09% controlling stake in Meizu Technology. The parties will work together to provide customers with core products that integrate multi-terminal, full-scene and immersive integration experience.
Xingji Technology, founded by the well-known entrepreneur Eric Li and global technology business elites, is dedicated to the research and development of advanced chips, intelligent terminals and full-stack technologies for operating systems. Meizu Technology, founded in 2003, is a leading innovator in technological life products and software ecological services in China. It has promoted the strategic layout of multiple products and scenarios such as smart phones, AIoT and trendy life and has built a new generation of smart automotive OS system, actively integrating into the global travel technology ecology. This deal has attracted extensive attention from the market.
As the counsel of Xingji Technology, King & Wood Mallesons (KWM) advised the client throughout the deal. At the request of Xingji Technology, the KWM team carried out thorough due diligence on the target, developed transaction plans, drafted transaction documents, participated in negotiations, and facilitated the closing of the deal, receiving a recognition from the client.
The KWM team was led by partners Pan Yujia and Wang Ningyuan, and supported by partner Huang Wen from Hong Kong office, Compliance partners Chai Zhifeng and Wu Han and counsel Dai Menghao, and Intellectual Property partners Jane Wu and Mark Fu. The cross-office, cross–practice team provided seamless one-stop legal services for the client.
