Chinese telecom equipment maker ZTE Corporation has agreed to sell a controlling stake in subsidiary ZTE Netview Technology (ZNV) to Hong Kong-based buyout firm Unitas Capital. The 1.3 billion renminbi (US$200 million) sale is part of ZTE Corporation’s divestment programme of non-core assets.
Upon completion of the transaction, Unitas, which will become the majority shareholder, will work in partnership with ZNV’s management and ZTE Corporation.
“ZNV has a maket-leading position in China and is well-positioned for future growth,” Jim Tsao, partner of Unitas Capital said in a statement on December 28.
ZNV is a market leader in providing systems to monitor telecommunications radio base stations. It also supplies systems to monitor internet data centres and provide end-to-end video surveillance system solutions including design, camera hardware, DVR/NVR units and associated platform management software.
Unitas, which has US$4 billion in capital commitments under management, targets investments in industrial, branded consumer and retail companies. The firm, which uses its in-house team to grow businesses in its portfolio, has in the past invested in companies with significant operations in China including auto industry supplier Air International Thermal System, hydraulics manufacturer, Hyva Holdings, and restaurant group Babela’s Group.
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