Xiamen Xinde (SHE:000701), through subsidiary Xiamen Xinda Digital Technology, will acquire Xiamen Guomao Digital Technology for 60.8 million yuan, according to a Shenzhen Stock Exchange disclosure on Thursday.
The Chinese auto dealer and electronic information company will buy 99% of the information technology services provider from Xiamen Guomao Group and the remaining 1% from Xiamen Guomao Haiwan Investment and Development.
Guomao Digital Technology will become a subsidiary of Xiamen Xinde after the completion of the transaction, the disclosure said.
The company's shares soared 10% in recent trade.
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