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indie (NASDAQ:INDI), 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.
Posted In: INDI
