XGIMI acquires Japanese company PopIn’s home projector business.
Recently, Japanese start-up popIn announced that it has transferred its home projector business to Aladdin X, a subsidiary of XGIMI. According to reports, the transfer amount is about 2 billion yen. Since popIn launched the projector, it has been entrusting XGIMI to produce it. The business transfer was completed in June, and XGIMI also established a new company for the Japanese domestic market.
Previously, XGIMI Technology launched Aladdin, a ceiling lamp product integrating smart projection equipment, in 2018, aiming at the characteristics of small residential space and unified ceiling lamp interface in Japan.
On May 12 this year, the shareholders meeting of XGIMI Technology reviewed and approved the proposal to acquire Aladdin. The company plans to acquire the Aladdin business of popIn Co., Ltd., which mainly includes the design, development, procurement and sales of Aladdin’s brand intelligent hardware and software. After the acquisition is completed, the company’s Aladdin business will be turned from ODM to independent operation.
According to the announcement, in the acquisition of XGIMI, the estimated purchase price including consumption tax is about 1.8 billion to 2.5 billion yen, equivalent to about 92.02 million to 128 million yuan. After the completion of this transaction, XGIMI will obtain the complete brand, intellectual property and channel resources of Aladdin-related products. XGIMI can directly obtain the market share and mature brands that Aladdin has achieved in Japan, and can also continue to launch products.
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