# Borqs Technologies signs LOI to acquire 60% of Shanghai KADI Machinery

Borqs Technologies signed a Letter of Intent to acquire 60% of Shanghai KADI Machinery Technology Co., Ltd, a developer of embedded software and hardware for electric vehicle control modules, for $15 million in cash and shares over three years.

- Type: Acquisition
- Announced: 2018-01-10
- Where: Shanghai, China, China
- Value: $15.0M
- Status: announced
- Products: electric vehicle control modules (DCDT, OBC, BMS, VCU)
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Borqs Technologies](https://endata.com/companies/29314.md) (acquirer)
- [Shanghai KADI Machinery Technology](https://endata.com/companies/29315.md) (target)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2018/01/10/1286705/0/en/borqs-technologies-signs-letter-of-intent-to-acquire-electric-vehicle-control-company.html), 2018-01-10: "Borqs Technologies, Inc. announces the signing of a Letter of Intent to acquire 60% of Shanghai KADI Machinery Technology Co., Ltd."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.