Summary by Moomoo AI
VTECH HOLDINGS (VTECH HOLDINGS) announced on 24 January 2024 that its wholly owned subsidiary entered into an asset acquisition agreement with the seller Gigaset Communications GmbH, subject to agreement to acquire the seller's assets, including intangible assets, real estate, real estate, real estate and equipment, and inventory for EUR 3,050 million (subject to adjustment). The acquisition constitutes a disclosable transaction pursuant to Chapter 14 of the Listing Rules. Due to insufficient liquidity, the seller filed for bankruptcy in September 2023 and is currently undergoing restructuring. Weida believes the acquisition will strengthen its leadership in home wireless telephony and expand its global sales channels. The sale is expected to take place on April 2, 2024, but the conditions in the asset purchase agreement are still subject to fulfillment.