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Navinfo to acquire majority stake in China Trans Geomatics

China: Navinfo, a digital map maker, will acquire 51.98 percent stake in China Trans Geomatics. It will be a CNY 138 million deal (CNY: Chinese Yuan Renminbi) yicai.com reported. According to Navinfo, the acquisition will help to extend its industrial chain, and improve its overall competitiveness.

China Trans Geomatics has a registered capital of CNY 12 million and provides spatial information technology to the transportation, ocean, water conservancy, land and power generation sectors.

Through end April 2011, the target company had total assets of CNY 74.73 million. China Trans Geomatics had recorded 2010 net profit of CNY 26.72 million on revenue of CNY 78.33 million.

Source: www.capitalvue.com