SIM Technology Group and u-blox terminate the asset purchase agreement and technology assignment contract for SIMCom’s cellular module product line
Shanghai, China– May 22nd, 2017
SIM Technology Group Limited (stock code: 2000.HK) is a global leader in mobile communication and Internet of Things andu-blox (SIX:UBXN), a global leader in wireless and positioning modules and chips, announced that they will not proceed with the sale, respectively acquisition, of SIMCom cellular module product line.
Despite best efforts on the part of SIM Technology Group and u-blox, the Parties could not close the deal as originally intended and were unable to find alternatives that worked for both whilst sustaining the intended benefits. Both Parties have therefore decided to amicably terminate the Asset Purchase Agreement and Technology Assignment Contract with all ancillary agreements.
■ About SIM Technology Group
SIM Technology Group is a global leader in mobile communication and Internet of Things, providing ODM services for worldwide mobile handsets and terminals customers as well as providing cellular modules and Internet of Things solutions.SIM Technology Group is providing specified terminals in different industrial areas, such as IOV, Police, Scanner, POS etc.Since 2015, the worldwide shipment of Simcom cellular modules has been ranked NO. 1based on the ABI research report.SIM Technology Group is listed on the Main Board of the HKEX (stock code: 2000.HK).
Please visit www.sim.com for more information.
Swiss u-blox (SIX:UBXN) is a global leader in wireless and positioning semiconductors and modules for the automotive, industrial and consumer markets. u-blox solutions enable people, vehicles and machines to locate their exact position and communicate wirelessly over cellular and short range networks. With a broad portfolio of chips, modules and software solutions, u-blox is uniquely positioned to empower OEMs to develop innovative solutions for the Internet of Things, quickly and cost-effectively. With headquarters in Thalwil, Switzerland, u-blox is globally present with offices in Europe, Asia and the USA.
( www.u-blox.com)
Find us on LinkedIn, Twitter @ublox, YouTube, Facebook and Google+
For more information:
SIM Technology Group
Miss. Wong
Tel: +852 2368 6824
E-mail: tikia.wong@sim.com
u-blox
Gitte Jensen, Investor Relations Manager
Phone: +41 44 722 74 86
E mail: gitte.jensen@u-blox.com
