Offshore law firm Ogier has acted as both British Virgin Islands and Cayman counsel to Pacific Special Acquisition Corp. on its merger with Borqs International Holding Co., which is significantly involved in the internet of things and smart devices sector.
The merger, which closed on Aug. 18, made Borqs a wholly owned subsidiary of Pacific. In return, Borqs former shareholders received a majority stake in Pacific.
Pacific, as holding company of the new group, changed its name to Borqs Technologies Inc.
Borqs, headquartered in Beijing, China, is a leading global provider of smart connected devices and cloud service applications.
News source: Cayman Compass