Suzhou Nanochip plans to acquire 79.31% of Shanghai MagnTek shares for RMB 793 million in cash

Following last year's announcement that it intended to acquire a 33.63% stake in Quantum Micro for no more than RMB 1.5 billion in cash, Suzhou Nanochip Microelectronics announced that it would acquire 79.31% of the shares of Shanghai Magtron Microelectronics for RMB 793 million in cash. The acquisition will make Nanochip the controlling shareholder of Magtron and include Magtron in its consolidated financial statements. The focus of this acquisition is on the field of magnetic sensors, which are one of the most widely used sensors in the automotive industry. From the pedals to the seat position of the car, from the fan to the fuel tank level, magnetic sensors are indispensable. Especially in terms of Hall switches, there may be dozens of such components in a car.