CNH Industrial N.V. (NYSE:CNHI)agreed to acquire Hemisphere GNSS (USA) Inc. from Beijing UniStrong Science&Technology CO.,LTD (SZSE:002383) for $175 million on March 29, 2023. Consideration for the acquisition is preliminarily determined at $175 million, free of cash and debt, and subject to customary adjustments. It will be funded with available cash on hand.

Closing is expected to occur within the third quarter of 2023, subject to the satisfactory completion of all required closing conditions including Unistrong’s shareholders’ approval, and all mandatory regulatory approvals, including those required by the applicable laws and regulations of the People’s Republic of China. This transaction still needs to be approved by the Beijing UniStrong Science&Technology CO.,LTD's shareholders’ meeting. In addition, the transaction still needs to be submitted to the US CFIUS and CMA for review and to obtain the approval of the Canadian Ministry of Economic Affairs under the Investment Canada Act.

On March 30, 2023, the 21st session of the Beijing UniStrong Science&Technology CO.,LTD's 5th directorate approved the . DC Advisory Japan acted as a financial advisor to Beijing UniStrong Science&Technology Co.,Ltd.