November 9 -- Chengdu Geeya Technology (300028.SZ) said its Hong Kong subsidiary, Geeya Tech (Hong Kong), has completed the 229 million yuan acquisition of Harvard International, a company listed on AIM, the London Stock Exchange's international market for smaller growing companies, reports Securities Daily, citing a company filing.

According to Zhou Xuhui, chairman of Geeya Technology, Harvard International, a major seller of set-top boxes in the U.K., had previously refused Geeya's request to become one of its suppliers.

Harvard International has been involved in the consumer electronics field for 40 years. Its products are mainly sold in the U.K. and Australia, and the company owns two brands, Goodmans and Bush.

Harvard had also obtained the rights to be the exclusive agent in Australia for expansion ports and sockets used in Apple's products.

Geeya expects the acquisition to help its expansion in the domestic market, and to generate higher revenue from international markets.

According to Geeya's third-quarter financial statement, net profit fell 9.06 percent year-on-year.

Source:CapitalVue