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indie Enters into Definitive Agreement to Sell its Interest in Wuxi indie Microelectronics
October 28, 2025 | indieEstimated reading time: 1 minute
indie, an automotive solutions innovator, today announced it has entered into an Asset Purchase Agreement with United Faith Auto-Engineering Co., Ltd., a publicly-listed company in the People’s Republic of China (United Faith) on October 27, 2025, to sell its entire 34.38% outstanding equity interest in Wuxi indie Microelectronics Technology Co., Ltd., a Chinese entity (Wuxi) to United Faith.
The transaction is subject to customary closing conditions for a transaction of this type, including shareholder approval from United Faith and receipt of all required regulatory approvals. United Faith will purchase indie’s outstanding equity interest in Wuxi for RMB 960,834,355, or approximately $135 million, payable in cash.
“As indie continues to redefine its vision, with a strong focus on transitioning to higher-value ADAS and automated driver and safety solutions, the sale of Wuxi represents another positive step in our strategic progression,” said Mark Tyndall, executive vice president of corporate development and investor relations. “While we exit our equity position in Wuxi, China remains an important market for indie, supported by its strong, independent, and well-established sales channel, including local regional support,” added Tyndall.
Between signing and closing, the Wuxi operation will be reported as discontinued operations within indie’s consolidated financial statements once it is determined that the transaction meets the requisite criteria under applicable accounting guidance. Upon closing, indie will exclude and deconsolidate the financial results of Wuxi from its future consolidated financial statements. The transaction is expected to close in late 2026. For more information on the transaction, including Wuxi’s contribution to indie’s most recently reported financial results, please refer to the Form 8-K filed with the United States Securities and Exchange Commission on October 28, 2025.
Deutsche Bank acted as financial advisor and Haiwen & Partners acted as legal counsel to indie.
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