IBS proposes HK$563 million acquisition of AI chip firm

International Business Settlement Holdings Limited (IBS) has entered into a Share Purchase Agreement to acquire the entire equity interest of QuantumCompute Solutions Limited for HK$563 million.

Upon completion, QuantumCompute Solutions will become a wholly-owned subsidiary of IBS. The company indirectly holds an 85.94% equity interest in Shanghai Tianjing Fulian, a group focused on the design and development of AI SoC products and integrated solutions. Shanghai Tianjing Fulian is also 5.56% owned by Foxconn Industrial Internet.

The Shanghai Tianjing Fulian Group specializes in low-power, cost-effective AI computing and edge computing applications. It is an officially authorized independent chip design house for MediaTek Inc. IBS intends for this acquisition to expand its business scope from fintech and computing power services into AI chip design and edge computing infrastructure.