Xiaomi has invested about $103m in a cash-and-shares deal that involved it increasing its stake in the power bank provider to almost 50%.

Consumer electronics manufacturer Xiaomi has agreed to pay almost $103m to increase its share of China-based internet-of-things (IoT) product maker Zimi from 22.5% to 49.9%, according to a stock market filing. The transaction will consist of approximately $25.8m in cash, with the rest to be paid in stock. Xiaomi is buying the shares from investment…

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