International Business Settlement Holdings Limited, a Hong Kong-listed company focused on fintech and computing power services, said on October 30 it had agreed to acquire all of QuantumCompute Solutions Limited for HK$563 million (US$71.7 million).

If completed, the deal would expand IBS into AI chip design and edge computing infrastructure.

IBS said QuantumCompute Solutions indirectly owns about 85.94% of Shanghai Tianjing Fulian. The Shanghai Tianjing Fulian group designs and develops AI system-on-chip products and integrated solutions for low-power, cost-effective AI computing and edge computing applications.

IBS said Foxconn Industrial Internet owns 5.56% of Shanghai Tianjing Fulian. It also described the Shanghai Tianjing Fulian group as an authorised independent chip design house for MediaTek.

Separately, IBS appointed Tang Tianshen as chief strategic consultant to advise on its fintech-related businesses. The company said he previously held senior roles at Intel, Shanghai Hua Hong, and SMIC.

🔗 Source: International Business Settlement Holdings Limited