Xiaomi has invested about $103m in a cash-and-shares deal that involved it increasing its stake in the power bank provider to almost 50%.
Consumer electronics manufacturer Xiaomi has agreed to pay almost $103m to increase its share of China-based internet-of-things (IoT) product maker Zimi from 22.5% to 49.9%, according to a stock market filing.
The transaction will consist of approximately $25.8m in cash, with the rest to be paid in stock. Xiaomi is buying the shares from investment firm Zifone Holdings and unnamed Zimi executives and employees.
Founded in 2012 and also known as Jiangsu Zimi Electronic Technology, Zimi produces smart power banks…
