Borqs Technologies (BRQS) Acquired 51% of Holu Hou Energy LLC
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Borqs Technologies Acquired 51% of Holu Hou Energy LLC
October 21, 2021 9:00 AM EDTBorqs signed definitive agreements on October 19, 2021 with Holu Hou Energy (HHE) to acquire 51% ownershipPurchase consideration in cash and ordinary shares of Borqs will be based on the performance of HHE in the years 2022 and 2023HHE financial results will be consolidated into Borqs beginning Q4 2021Reaffirms year 2022 HHE revenue forecast of $48 millionCash payments to HHE have already been secured in recent financing
SANTA CLARA, Calif., Oct. 21, 2021 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq:... More
