# Zhongkong Technology to acquire 22% stake in Petro-Cyberworks for $88M

Zhongkong Technology (SUPCON) announced it will acquire a 22% equity stake in Petro-Cyberworks Information Technology Co., Ltd. for RMB 561 million (approx. $88 million) to strengthen its 5T business strategy and digitalization capabilities.

- Type: Acquisition
- Announced: 2022-02-24
- Where: China
- Value: $88.0M (561.0M CNY)
- Status: announced
- Products: industrial automation and digitalization solutions
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Zhongkong Technology Co., Ltd.](https://endata.com/companies/61017.md) (acquirer)
- [Petro-Cyberworks Information Technology Co., Ltd.](https://endata.com/companies/61260.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/664180.html), 2022-02-24: "本次交易有助于加深综合项目中的ERP合作，有助于中控技术5T战略的布局和快速发展。"

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