ECARX buys Flyme software for $266 million

ECARX acquired Flyme's software business from Xingji Meizu for RMB 1.8 billion ($266 million). The deal includes the Flyme Auto operating system, deployed in over two million vehicles. ECARX financed roughly 70% of the purchase through a 10-year syndicated loan. Shares fell about 4% on the announcement day.