Edifier buying Stax?
On the heels of the announcement by Bill Gates partnering with China to develop 4th generation nuclear reactors, here comes a news item that is just as earth shaking (at least to the audio world :-)) -Translated with Google:
At Edifier’s eleventh meeting of the Board of Directors December 7, 2011 meeting, considered by “the acquisition of Japanese STAXLtd. 100% stake in the motion.” The Board confirms that its own funds, in cash to acquire Japanese STAXLtd.100% equity, the transaction price of 1.2 billion yen (according to December 6, 2011 Exchange 100 yen exchange 8.1411 yuan exchange rate, equivalent to 97.7 million yuan) . “Equity Transfer Contract” on December 6, 2011 signed, and in consideration by the Board of Directors and approved by relevant Chinese department of commerce for the record effect only.
That is approx US$ 15,000,000
Update: looking at the original press in Chinese, the numbers are 120,000,000 yes or approx US$1.5M. That is a really low price to pay for the company.