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MEIZU: Chinese carmaker Geely acquires 79%

This afternoon the news of Geely's acquisition of Meizu finally arrived. According to official information, Xingji Times (a subsidiary of Geely) plans to sign an agreement with Meizu and Huang Xiuzhang to acquire a 79,09% stake in Zhuhai Meizu.

MEIZU: Chinese carmaker Geely acquires 79%

Currently, Huang Xiuzhang and Taobao China Software Co. hold 49,08% and 27,23% of Zhuhai Meizu, respectively.

After the completion of this transaction, Huang Xiuzhang's stake in Zhuhai Meizu will be reduced to 9,79%, Taobao China will withdraw from Zhuhai Meizu's stake and control; the buyer Xingji Times will own 79,09% of the shares of Zhuhai Meizu and obtain the right to separate control of Zhuhai Meizu.

After the news came out, many users were happy, including both Meizu and Geely fans.

For Meizu, as a “small factory”, it can greatly improve the operational situation and funds will be more abundant. The mobile phone project can be advanced faster, and iteration of mobile products may be smoother in the future.

For Geely, many car owners and network users believe that there is hope for Geely's machines, which will bring great improvements to systems where Meizu has always been strong.

Recall that last year Meizu released an operating system for the automotive industry, the OS Flyme for Car in-vehicle.

Pierpaolo Figuccia
Pierpaolo Figuccia

Nerd, passionate about technology, photography and video maker. And of course I love Xiaomi products!

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