On Oct 25, NavInfo Co. Ltd's purchase of Autochips Inc. was announced by the China Securities Regulatory Commission.

NavInfo will buy 100 percent of Autochip's equity valued at 3.8751 million RMB by stock and cash.

It will arrange financing from Tencent Industry Fund, Tian’an Insurance, China Securities, HuaTai Insurance, Anpeng Capital, Longhua Qifu Investment and its employee stock ownership plan.The Tencent Industry Fund will subscribe 180 million RMB for new shares of NavInfo Co., Ltd; its ownership proportion will decrease to 9.74 percent.

About 3.54 billion RMB of the money raised by NavInfo will be used in the Autochips purchase, 0.22 billion RMB will be used in developing the Fundrive Welink project, and 3.54 billion RMB will be used.

Autochips Inc. is an In-Vehicle Infotainment system chip and solutions supplier. NavInfo will use it to create a new strategy and industrial chain. Navinfo will gain advantages from Autochips' activity in the aftermarket which should combine with its own advantages in the beforemarket to increase its overall market share.    

Beijing Xindongneng Investment Fund was established by E-Town Capital's Parent Fund, BOE Technology Group Co., Ltd and National Integrated Circuit industry Investment Fund Company. The fund is focused on the integrated circuit industry, new semiconductor display industry, and the software and system industry. The NavInfo project is the largest investment by the Xindongneng Investment Fund to date.