A corporate venturing unit of Germany-based industrial conglomerate Siemens was reportedly among the backers of China Traffic Holding, a China-based transport technology company, which was recently sold for $45m in cash and shares to Hong Kong-listed China ITS.
As well as Siemens Venture Capital, other backers of China Traffic Holding were GP Investment and Founder Holdco, news provider Financial Times said. China Traffic Holding was also backed by Boomtown Investments, news provider Zephyr added.
China ITS is paying $29.8m cash and $15.2m in its own shares.