STOCKWATCH

Sasken Technologies Completes $40M Acquisition of BORQS International Holding Corp.

Sasken Technologies Ltd. has completed the acquisition of 100% share capital of BORQS International Holding Corp. and its identified wholly owned subsidiaries for an aggregate consideration not exceeding US$ 40 million. The acquisition, which was executed through Sasken Design Solutions Pte. Ltd., a wholly owned subsidiary of the Company, will enable Sasken to support its customers in designing, developing, and commercializing connected devices from concept to market.

• Sasken Technologies Ltd. has completed the acquisition of BORQS International Holding Corp. and its identified wholly owned subsidiaries.
• The total consideration for the acquisition is not exceeding US$ 40 million.
• The acquisition was executed through Sasken Design Solutions Pte. Ltd., a wholly owned subsidiary of the Company.
• The acquisition will enable Sasken to support its customers in designing, developing, and commercializing connected devices from concept to market.
• BORQS International Holding Corp. is engaged in the business of providing customized IoT solutions.