Longsys Intends to Acquire 81% of the Shares of SMART Brazil and its Wholly-owned Subsidiary to Expand the Brazilian Market
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Update time : 2023-06-17 10:06:25
A few days ago, Longsys announced that the company purchased SMART Modular Technologies do Brasil‐Indústria e Comércio de Componentes Ltda. (hereinafter referred to as "SMART Brazil") and its wholly-owned subsidiary SMART Modular Technologies through its subsidiary Lexar Europe B.V. for cash 81% of Indústria de Componentes Eletrônicos Ltd. (hereinafter referred to as "SMART Modular", together with SMART Brazil, the "Target Company").
Longsys said that the company conforms to the global industrial development trend and actively promotes the international investment layout of the company's storage business and supply chain. Upon completion of this transaction, the company will use the target company as a platform to expand the Brazilian market, enhance long-term profitability and enhance shareholder returns.
It pointed out that the target company is located in Brazil, the country's economic strength ranks first in Latin America, and it is one of the BRICS countries with China, with a large market size, and a huge market in smartphones, personal computers and other electronic products. The target company's main business is concentrated in the Brazilian domestic market, and its customers are well-known smart phone and personal computer brands. After more than 20 years of continuous development, the target company has mature memory manufacturing capabilities, relatively sufficient production capacity, and good factory management capabilities.
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