Chengdu Geeya Technology through subsidiary Geeya Tech will fully acquire Harvard International for 229 million yuan (€26m).
Harvard International is listed on the AIM board of the London Stock Exchange. Harvard International is a major seller of set-top boxes in the UK and has been involved in the consumer electronics field for 40 years. Its products are mainly sold in the UK and Australia.
Harvard International owns two brands, Goodmans and Bush, and has been cooperating with the UK’s largest non-food retailer, Argos, and Australia’s largest electronics retailer, Harvey Norman, for a number of years.
Geeya expects the acquisition to help its expansion in the domestic market and to generate higher revenue from international markets.