Xiaomi Group recently published an announcement, stating that the group would acquire 27.44% shares of Zimi for USD103 million.

Xiaomi Group will pay USD25.78 million in cash and it will pay the remaining USD77.06 million with allotment of 54,379,044 shares.

On the completion of the transaction, Xiaomi Group will own 49.91% shares of Zimi.

According to public files, Zimi was established in 2012 and it became a member of Xiaomi's industrial ecosystem chain in 2013. It is responsible for research and development of Xiaomi mobile power bank and related accessories.

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