September 1, 2021
The company has completed the acquisition of 100% of shares of its Pantum Electronics subsidiary.
The China Securities Regulatory and the China Securities Regulatory Commission’s Listed Companies Mergers and Acquisitions and Reorganization Review Committee have reviewed the issuance of shares by Ninestar Co., Ltd. (Pantum Electronics) and payment of cash to purchase 100% equity of its Zhuhai Pantum Electronics Co., Ltd. subsidiary.
This resulted in the suspension of trading on 25th August so the transaction could take place.
Ninestar Co., Ltd. now holds 100% of the equity of Pantum Electronics.
Pantum has been expanding rapidly in multiple markets. In May this year the UK distributor, Data Direct entered into a distribution agreement with Pantum to supply Pantum printing products in the UK.
The Data Direct deal followed Pantum’s expansion into the US market, via Amazon with the launch of the Pantum BP5100 and BM5100 series of printers on Amazon.
In Europe the company has been expanding its European commercial network and where it released the Pantum BP5100 series and BM 5100 series printers. The commercial focus is on the key markets of Western Europe and Central and Eastern Europe and is also launching on-the-ground after-sales services in Spain.
Our take on this: This acquisition increases the Ninestar OEM footprint with both Lexmark and Pantum in the printer space. Lexmark has a clear channel and Pantum ticks all the boxes for someone looking for a robust, no nonsense printer. But in a mature market, which OEMs are going to be squeezed as Pantum expands into more and more markets.?
Categories : City News