Thunder Software Technology Plans USD37 Million Buyout of Bulgaria’s MM Solutions AD

Thunder Software Technology Plans USD37 Million Buyout of Bulgaria’s MM Solutions AD

Dou Shicong

Date: Mon, 12/04/2017 - 18:54 / source:Yicai
Thunder Software Technology Plans USD37 Million Buyout of Bulgaria’s MM Solutions AD
Thunder Software Technology Plans USD37 Million Buyout of Bulgaria’s MM Solutions AD

(Yicai Global) Dec. 4 -- Beijing-based Thunder Software Technology Co. [SHE:300496] plans to invest USD36.79 million (EUR31 million) to acquire Bulgarian image technology company MM Solutions AD.

The latter develops imaging for mobile phones, the Internet of Things and automobiles.

Thunder Software Technology struck a merger and acquisition agreement with shareholders of MM Solutions AD on Dec. 1 to acquire all their shares in the cash buyout, Thunder Software Technology said today.

MM Solutions is a leading European mobile and industrial graphics and imaging technology company with 16 years of research and development (R&D) experience and advanced image processing algorithm development, optimization and integration capabilities. Thunder Software Technology will acquire MM Solutions’ strong technical and R&D capabilities, as well as high quality client resources to enhance the company’s global market competitiveness in the visual and artificial intelligence fields.

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Keywords: Thunder Software Technology, MM Solutions AD, BULGARIA