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Borqs Technologies Acquired 51% Of Holu Hou Energy Llc

Oct 21, 2021•over 3 years ago

Acquiring Company

BORQS

Acquired Company

Holu Hou Energy

Santa ClaraSoftwareNatural ResourcesEnergyManufacturingSustainability

Description

Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs,” or the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today announced it signed definitive agreements dated October 19, 2021 and now owns 51% interest in Holu Hou Energy LLC (“HHE”), an innovative solar energy and storage provider for the residential, multi-family residential and commercial building markets. The acquisition transaction has closed successfully.

Company Information

Company

BORQS

Location

5201 Great America Parkway, Suite 320

Santa Clara, California, United States

About

BORQS is a global leader in embedded software and IoT products, delivering customizable, scalable Android-based smart-connected devices and end-to-end cloud-service solutions. Founded in 2007 and listed on NASDAQ under the symbol BRQS, BORQS operates R&D centers in China and India, with a presence in the USA, Japan, and Korea. The company partners with top chipset vendors to leverage a strong software and IP portfolio, enabling clients to excel in the IoT space. Notably, BORQS developed the first commercial-grade video telephony software for Android and collaborated with Qualcomm to create the world’s first 4G Android wearable on the Snapdragon™ Wear platform. From smartwatches to LTE-based trackers for kids, pets, and fitness, BORQS continues to lead innovation in low-power, always-connected wearables.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed