Meizu was acquired by which company?

Geely Auto Group acquired 79.09% of the controlling stake in Meizu Technology for approximately HK$740 million on July 4, 2022, becoming the controlling shareholder of Meizu Technology. Geely Auto is a Hangzhou-based automaker, while Meizu Technology is a smartphone maker founded in 2003. The acquisition marks Geely Auto's major move into the smartphone market, while Meizu Technology hopes to use Geely Auto's resources to enhance its competitiveness.

Which company has Meizu been acquired by?

Geely Automobile Group

Detailed information:

On July 4, 2022, Geely Automobile Group announced an investment of approximately HK$740 million ( Acquired 79.09% controlling stake in Meizu Technology for approximately US$670 million). After the acquisition is completed, Geely Auto will become the controlling shareholder of Meizu Technology, while Meizu Technology founder Huang Zhang will continue to serve as chairman and hold approximately 20.91% of Meizu Technology's shares.

Geely Automobile is a Chinese automobile manufacturer headquartered in Hangzhou, Zhejiang. The company was founded in 1986 and is a subsidiary of Zhejiang Geely Holding Group Co., Ltd. Geely Automobile is known for its low-cost, cost-effective cars and holds a significant share of China's domestic market.

Meizu Technology was founded in 2003 and is headquartered in Zhuhai, Guangdong. The company mainly produces and sells smartphones, accessories and other consumer electronics products. Meizu is known for its sleek design, user-friendly Flyme operating system, and strong fan community.

This acquisition marks a major step for Geely Automobile to enter the smartphone market. Geely Auto hopes to achieve its goal of becoming the world's leading automaker by leveraging Meizu Technology's brand, technology and user base. Meizu Technology hopes to leverage Geely Auto’s resources and industrial chain advantages to enhance its product competitiveness and market share.

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