Ecarx rises after agreeing to buy Flyme software business
Mon 12:51
BUZZ-Ecarx rises after agreeing to buy Flyme software business ** China-based automotive technology provider Ecarx's ECX.O shares jump 12.2% premarket to $1.19 after company said it will buy Flyme software business
** Ecarx says deal valued at 1.8 billion yuan ($266 million); 70% to be funded by syndicated bank loans, 30% internal sources
** Flyme software business portfolio comprises Flyme Auto, an in-vehicle cockpit operating system and a cross-device Flyme operating system
** Co says it will operate Flyme as an independent software division upon completion of the deal
** Up to last close, stock is down 38.2% YTD
(Reporting by Sudeshna Ghoshal)
Recent news on Ecarx Holdings.
See all newsU.S. STOCKS ON THE MOVE-Abbvie, AMC, Getty
U.S. STOCKS ON THE MOVE-Getty Images, Ecarx, Maplight Therapeutics
U.S. STOCKS ON THE MOVE-Definium, Regenxbio, Arcosa
Ecarx rises after agreeing to buy Flyme software business
Brief: Ecarx Enters Definitive Agreement To Acquire Full Flyme Software Business, Securing End-To-End Os Capabilities