Goode EIS (Suzhou) Corp (SHE:301680) has agreed to acquire an 80% stake in Shenzhen Zhenqin Electronics Technology for 144 million yuan, according to a Monday filing wiith the Shenzhen bourse.

The stake will be acquired from Zang Yifeng, Xie Gang, and Wang Lin at a valuation of 181.3 million yuan.

The payment for the acquisition will be made in tranches, with the first phase to be completed within seven days of signing the agreement.

Shares of the electronic equipment manufacturer fell 2% in recent trade.