NavInfo Co., Ltd. (SZSE:002405) agreed to acquire AutoChips Inc. from Ralink Technology (Samoa) Corp. and a consortium of sellers for CNY 3.9 billion on May 5, 2016. Under the terms of the transaction, NavInfo Co., Ltd. will pay CNY 3.54 billion in cash, approximately corresponding to 91.47% of total consideration, and CNY 330.51 million in shares, approximately corresponding to 8.53% of total consideration. NavInfo Co., Ltd. will issue 12.9 million shares at a price of CNY 25.59 per share to AutoChips’ shareholders. NavInfo Co., Ltd. (SZSE:002405) signed an assets acquisition agreement to acquire AutoChips Inc. from Ralink Technology (Samoa) Corp. and a consortium of sellers on May 13, 2016. As on June 7, 2016, the shareholders of NavInfo Co approved the deal. The number of shares to be issued has been revised from 12.92 million shares to 19.42 million. NavInfo Co., Ltd. will raise funds to support the transaction for gross proceeds of not more than CNY 3.8 billion out of which CNY 3.54 billion will be used for the cash consideration of acquiring AutoChips. The final amount will be subject to the achievement of the terms and conditions in the agreement. The transaction is subject to approval from shareholders of NavInfo Co., Ltd. and CSRC. The transaction was approved by the Board of Directors of MediaTek, Inc., parent of Ralink Technology (Samoa) Corp., Boards of Ralink Technology, Heyday Global, Guang Jia Limited, Hefei High-Tech Venture Capital Co., Ltd., Waysing Ventures, Waysing Holdings and Creative Talent and NavInfo Co., Ltd. The deal has been approved by the China Securities Regulatory Commission. The transaction is expected to close in the fourth quarter of 2016. On January 17, 2017, China Securities Regulatory Commission approved the transaction. China Securities Co., Ltd. acted as a financial advisor, Tian Yuan Law Firm acted as a legal advisor, Ruihua Certified Public Accountants, LLP and ShineWing Certified Public Accountants Co., Ltd. acted as accountants to NavInfo. NavInfo Co., Ltd. (SZSE:002405) completed the acquisition of AutoChips Inc. from Ralink Technology (Samoa) Corp. and a consortium of sellers on March 2, 2017.