Empyrean Technology (SHE:301269) purchased a 6.9% stake in Xinxingji Technology for 149 million yuan from Beijing Shengshi Zhida Investment Fund Management, according to a Friday filing with the Shenzhen Stock Exchange.
The stake purchase is equivalent to about 9.3 million shares.
The investment in Xinxingji will shorten the time needed to fill gaps in digital circuit electronic design automation tools and hasten construction of a full digital circuit design EDA tool system, among others, the filing said.
Company shares rose 8% during afternoon trading on Friday.
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