Borqs Technologies Shortlists Buyers for the Second Round of Due Diligence & Negotiations for the Divestment of Holu Hou Energy LLC
Borqs Technologies Shortlists Buyers for the Second Round of Due Diligence & Negotiations for the Divestment of Holu Hou Energy LLC
SANTA CLARA, Calif., Oct. 06, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, "Borqs", or the "Company"), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced that it has received multiple non-binding indications of interest for its stake in Holu Hou Energy LLC ("HHE") and a selected group of potential buyers have been invited to participate in the second round of due diligence and negotiations for the complete divestment of the Company's interest in HHE.
加利福尼亞州聖克拉拉，2023年10月6日(環球網)--全球5G無線和物聯網解決方案供應商播思科技股份有限公司(納斯達克：BRQS，“博爾克”或“公司”)今天宣佈，它已收到多份對其持有的Holu Hou Energy LLC(“HHE”)股份的非約束性意向書，並已邀請一批選定的潛在買家參加第二輪盡職調查和談判，以徹底剝離公司在HHE的權益。
As previously announced, the Company was mandated by CFIUS to divest its ownership in the solar energy storage subsidiary, HHE, due to national security concerns. Subsequently, Cantor Fitzgerald & Co., a nationally reputable investment firm, was engaged by the Company to initiate and manage the sales process of the Company's ownership in HHE and has received considerable interest from potential buyers. The said transaction is on track to be finalized by the end of the year.
正如之前宣佈的那樣，出於國家安全考慮，CFIUS授權本公司剝離其在太陽能儲存子公司HHE的所有權。隨後，本公司聘請全國知名的投資公司Cantor Fitzgerald&Co.發起並管理本公司在HHE的所有權的出售過程，並收到了潛在買家的相當大的興趣。上述交易有望在今年年底前敲定。
"Proceeds from the divestment will be used for the growth of our business, making strategic M&A, and we will also consider a share buyback program and/or a special dividend payout in order to enhance our shareholder value," said Mr. Pat Chan, CEO of Borqs Technologies.
播思科技首席執行官陳一舟表示：“撤資所得將用於我們業務的增長，進行戰略性並購，我們還將考慮股票回購計劃和/或特別股息支付，以提升我們的股東價值。”
About Borqs Technologies, Inc.
播思科技公司簡介
Borqs Technologies (Nasdaq: BRQS, "Borqs", or the "Company") is a global leader in software and products for the IoT, providing customizable, differentiated, and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio. Borqs' unique strengths include its Android Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage, and system performance optimization, suitable for large and low volume customized products, and is also currently in development of 5G products for phones and hotspots.
播思科技(納斯達克代碼：BRQS)是物聯網軟體和產品領域的全球領導者，提供可定製、差異化和可擴展的基於安卓的智慧互聯設備和雲服務解決方案。Borqs憑藉其戰略晶片組合作夥伴關係以及廣泛的軟體和IP產品組合，作為創新型端到端物聯網解決方案提供商獲得了領導地位和客戶認可。Borqs的獨特優勢包括其Android許可，使公司能夠開發涵蓋晶片組軟體、Android增強功能、域特定用途和系統性能優化的軟體IP庫，適用於大容量和小批量定製產品，目前還在為手機和熱點開發5G產品。