This is in continuation to our letter dated 9th November 2024 wherein we have informed your goodselves that the Board of Directors of the Company have considered and approved a proposal to acquire 100% share capital of BORQS International Holding Corp. along with its identified wholly owned subsidiaries (Target entities) either directly or through any of the subsidiaries.\r\n\r\nSasken Design Solutions Pte. Ltd., a wholly owned subsidiary of the Company with its registered office in Singapore, acquired 100% share capital of the BORQS International Holding Corp. for an aggregate consideration (including earn-outs) not exceeding US$ 40 million (up to ~Rs. 338 crores) subject to adjustments / completion of specified conditions, as set out in the Share Purchase Agreement dated 8th April 2025. Following this acquisition, the said target entities will become Step Down Subsdiaries (SDS) of the Company effective 8th April 2025.\r\n\r\nKindly take the same on record.