NavInfo, China's leading digital map provider, announced that Gaintech Co. Limited, a subsidiary of MediaTek, plans to make an investment in NavInfo's new subsidiary Mapbar Technology Limited.
The investment amount will be no more than USD100 million, and NavInfo said that the company will also make an additional investment into Mapbar Technology Limited in the future.
The companies stressed that Gaintech Co. Limited has no association with NavInfo. Therefore, the investment does not constitute a related transaction.
Established on December 28, 2004, Mapbar Technology Limited is registered in the British Virgin Islands. NavInfo revealed that Gaintech's investment in Mapbar Technology Limited is still subject to the approval of Taiwanese regulatory authorities.