B2EN (307870) is moving ahead with its acquisition of management control of NC&.
NC& disclosed that payment for its third-party share placement to B2EN had been completed. The new shares are scheduled to list on October 8, making B2EN the largest shareholder with approximately 27.7%. Including related parties, the holding totals 44.37%.
With payment completed, B2EN is accelerating follow-up procedures to obtain management control of NC&. NC& plans an extraordinary general meeting on October 30 to address amendments to its articles and appointments of directors and an auditor. B2EN plans to reorganize NC&'s management as its largest shareholder.
NC& operates automotive video businesses including dashcams and, as of the end of June, held approximately 23% of automotive vision chip specialist Nextchip. B2EN expects the acquisition to broaden its business links with mobility, from automotive video to semiconductors.
B2EN intends to use the acquisition to extend its AI- and data-centered portfolio into future mobility. It plans to strengthen NC&'s existing competitiveness and progressively develop business models combining B2EN's data management, quality and AI technology with NC&'s automotive video foundation.
A B2EN representative said, “This is a strategic investment to extend our accumulated AI and data capabilities into new industries. We will identify concrete joint initiatives using both companies' strengths to deliver business results and enhance long-term corporate value.”
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