Will Semiconductor Co., Ltd. (SHSE:603501) agreed to acquire 79.93% stake in Beijing Vision Source Technology Development Co., Ltd from a group of sellers for approximately CNY 250 million on August 8, 2018. As on August 14, 2018, conditional acquisition of asset through shares issuance agreement was signed for the deal. Will Semiconductor will issue 7.5 million shares at a price of CNY 33.88 per share, worth CNY 254.6 million to acquire the stake. As of August 2, 2019, Will Semiconductor will issue 7.56 million shares at an issuance price of CNY 33.70 per share. In related deal, Will Semiconductor agreed to acquire 96.08% stake in Beijing Haowei Technology Co., Ltd. and 42.27% stake in Beijing SuperPix Micro Technology Co., Ltd. Beijing Vision Source Technology Development Co., Ltd reported total assets of CNY 3.9 million and net assets of CNY 2.3 million as of December 31, 2017 and operating loss of CNY 0.18 and net loss of CNY 0.18 million for the year ended December 31, 2017.

The deal is subject to another directorate approval of Will Semiconductor, approval of shareholders of Will Semiconductor, approval of anti-monopoly bureau of the State Administration for Market Regulation and China Securities Regulatory Commission. The deal has been approved by the Board of Directors of Beijing Vision Source Technology Development Co., Ltd on August 8, 2018. The deal has been approved at Will Semiconductor 's meeting of Board of Directors convened on August 14, 2018. The transaction is approved by the shareholders of Will Semiconductor on December 17, 2018.

He Ru of Guosen Securities Co., Ltd. (SZSE:002736), Hou Wei of Sino-German Securities Co., Ltd. and Zhong De Securities Company Limited acted as financial advisors to Will Semiconductor. Zhou Shijun, Wang Kun and Cui Chengli of Tian Yuan Law Firm acted as legal advisors and Gao Jianbin and Xu Xing of PricewaterhouseCoopers Zhong Tian LLP and Chen Hong and Dai Jinyan of BDO China Shu Lun Pan Certified Public Accountants acted as accountants for Will Semiconductor. Lixin Certified Public Accountants (Special General Partnership) acted as accountant to Will Semiconductor.

Will Semiconductor CO., Ltd. Shanghai (SHSE:603501) completed the acquisition of 79.93% stake in Beijing Vision Source Technology Development Co., Ltd from a group of sellers on July 30, 2019.