Haimo Technologies Group Corp. (SZSE:300084) agreed to acquire 27.8% stake in Xi'An Sitan Instruments Co., Ltd. from from Xi’an Sitan Electronic Technology Co., Ltd., Wang Ling, Liu Jin, Li Jing and Lei Xuanfeng for approximately CNY 220 million on October 8, 2016. Under the terms, 30 million shares will be acquired at CNY 7.41 per share. The sellers will respectively sell 26.7 million shares, 1 million shares, 0.5 million, 0.4 million and 1.4 million shares. On October 8, 2016 the Board of Directors of Lanzhou Haimo Technologies Co., Ltd. and on October 26, 2016, the shareholders of Haimo Technologies Group Corp. approved the deal.