Beijing BDStar Navigation Co Ltd has agreed to acquire Rx Networks Inc, a Vancouver-based mobile positioning technology company, according to a Reuters report.
Reuters said the Chinese company, a maker of satellite navigation positioning products, struck a deal to buy Rx Networks for C$31 million (about $23.26 million).
Founded in 2006, Rx Networks is a portfolio company of Canadian venture capital firms Discovery Capital and Telus Ventures, the investment arm of Telus Communications Co, among other investors.
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