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Geeya to Acquire UK Set-Top Box Maker for RMB 229 Mln

Wccdaily, 10/12/11

Chinese broadcasting system management products provider Chengdu Geeya Technology (300028.SZ) has announced its wholly-owned subsidiary Geeya Tech (Hong Kong) will wholly acquire UK set-top box manufacturer Harvard International for RMB 229 mln.

Harvard International is currently listed on the London Stock Exchange's Alternative Investment Market (AIM) and specializes in consumer electronics such as cable DTV set-top boxes, digital TV recorders, and accessories for iOS devices for the UK and Australian markets.

Harvard International recorded a GBP 15.6 mln loss in 2009 and GBP 5 mln loss in 2010, but is expected to turn net profit of GBP 400,000 (approximately RMB 3.96 mln) in 2011.

Keywords: overseas Harvard International consumer electronics London Stock Exchange loss profit television AIM set-top box UK 300028.SZ Geeya M&A

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