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© bakhtiarzein dreamstime.com Business | May 23, 2017

SIM Tech and u-blox terminate asset purchase agreement

SIM Technology Group and u-blox terminate the asset purchase agreement and technology assignment contract for SIMCom’s cellular module product line.
u‑blox, specialist in wireless and positioning modules and chips, and SIM Technology Group will not proceed with the sale, respectively acquisition, of SIMCom cellular module product line.

The parties could not close the deal as originally intended and were unable to find alternatives that worked for both whilst sustaining the intended benefits. Both companies have therefore decided to amicably terminate the Asset Purchase Agreement and Technology Assignment Contract with all ancillary agreements.
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November 20 2018 6:51 pm V11.9.5-2