BUZZ-Ecarx rises after agreeing to buy Flyme software business

ECARX Holdings, Inc.

ECARX Holdings, Inc.

ECX

0.00

** China-based automotive technology provider Ecarx's ECX.O shares jump 12.2% premarket to $1.19 after company said it will buy Flyme software business

** Ecarx says deal valued at 1.8 billion yuan ($266 million); 70% to be funded by syndicated bank loans, 30% internal sources

** Flyme software business portfolio comprises Flyme Auto, an in-vehicle cockpit operating system and a cross-device Flyme operating system

** Co says it will operate Flyme as an independent software division upon completion of the deal

** Up to last close, stock is down 38.2% YTD


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