Infinity and affiliate secure 4.7% of Anxin-China
Infinity Group, the Israel-based private equity firm created by China Development Bank and Israeli conglomerate IDB Group, has joined an affiliate in purchasing a 4.7% stake in Anxin-China Holdings for $30 million.
Anxin's subsidiaries provides hardware and application software and services used in intelligent surveillance, disaster alert and rescue coordination systems.
Infinity Group, and its affiliate, ultimately intends to own at least 5% of Anxin. This is part of an accord established last July when Infinity agreed to sell distribution rights and intellectual property (IP) owned by two of its portfolio companies, I-China Security and Mate, to Anxin for $30 million over two tranches. Both I-China and Mate specialize in intelligent security systems.
Infinity claims this deal marked its 10th sale to a Chinese company of IP originating from outside of China. The transfer of Mate technology to Anxin has already been completed.
"Infinity is well-known for its strong post transaction follow up. These are not just words but a true order of commitment and service to our partners," said Ariel Poppel, Infinity's Group Managing Director in a statement.
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