By P.R. Venkat
Xiaomi Corp. has entered into an agreement to acquire a 27.44% stake in Zimi International Corp. in a cash and share deal.
The Chinese smartphone maker will acquire the stake for $102.84 million of which $25.78 million will be paid in cash and the rest through shares, Xiaomi said late Thursday.
Zimi is a high-tech company focusing on smart hardware, mobile accessories and IoT products.
Write to P.R. Venkat at venkat.pr@wsj.com