Marshall Group Acquisition & Valuation

HTC Corporation is a Taiwanese consumer electronics company. The company is engaged in designing, manufacturing, assembling, processing, and selling smart mobile and virtual reality devices and after-sales services. Its products include smartphones, tablets, cameras, wearable fitness devices, Blockchain phones, Vive, and virtual reality headsets. The company’s operations are mainly in the research, design, manufacture and sale of virtual reality devices and smart mobile devices, which accounts for majority of the total revenue.

Smarter is a London-based developer of connected kitchen appliances that integrate Wi-Fi functionality into everyday devices. The company produces products like the iKettle third generation, Smarter Coffee second generation, and FridgeCam wireless fridge camera. These items connect to mobile apps for remote control, reducing energy use and food waste, and are distributed through retailers such as Currys, Amazon, and Best Buy in the UK, Europe, and North America.

Cricut Inc designs and builds a creativity platform that enables users to turn ideas into professional-looking handmade goods. With its connected machines, design apps and accessories, and materials, the users create everything from personalized birthday cards, mugs and T-shirts to large-scale interior decorations. It has two segments including the Platform segment which derives revenue from monthly and annual subscription fees, purchases of digital content, and a minimal amount of the revenue allocated to unspecified future upgrades and enhancements related to the essential software and access to the Company’s cloud-based services and Products segment which derives revenue from the sale of its connected machine hardware, and sale of craft, DIY, home decor products and extensions.

Shenzhen Fenda Technology Co Ltd is a China-based company engaged in the designs and manufacturing of audio and electro-acoustic devices for global consumers. It offers hardware and integrated solutions to provide services for software development, hardware design, and cloud technology. The product portfolio of the company includes speakers, headphones and other related accessories.

LeVP is a Beijing-headquartered internet technology subsidiary of LeEco, integrating content, devices, and services across smartphones, smart TVs, electric vehicles, and sports streaming. The platform delivers an ecosystem connecting Leshi Video, LeTV hardware, and LeCloud storage for users in China and select international markets. Formed in 2015, it supports LeEco's cycle of shared hardware-software experiences.

HMD Global is an Espoo, Finland-based company that holds the exclusive license to the Nokia brand for mobile phones and tablets. Founded in 2016, the company designs and markets smartphones and feature phones across a range of price points, selling in 91 markets through roughly 250,000 retail outlets and having sold more than 240 million phones to date. HMD has also expanded into services such as subscription data roaming and mobile cybersecurity.

ModRetro is a U.S.-based hardware manufacturer reviving classic video game consoles. The company produces FPGA-based systems replicating Nintendo Game Boy Advance, GameCube, and N64 architectures with modern HDMI output and USB controllers. Devices support original cartridges and SD card loading. Launched in 2023 from Florida, ModRetro supplies retro gaming enthusiasts worldwide through crowdfunding and direct sales.

Xreal is a Beijing-headquartered developer of lightweight augmented reality glasses enabling spatial computing for consumers and enterprises. Founded in 2017, its Air and Beam series products feature micro-OLED displays with 1080p per eye resolution and low-latency tracking via dual 3D sensors. Xreal ships millions of units globally and integrates with Android, macOS, and Windows ecosystems for productivity, gaming, and entertainment applications.

Toshiba Tec Corp is a Japan-based company that designs, manufactures, and distributes office equipment and machinery. Its product lineup is organized in four segments--retail solutions, which includes point-of-sale systems, self-checkout machines, kiosks and displays; printing solutions, which includes desktop, mobile, barcode, and multifunction printers; inkjet solutions, which includes high resolution inkjet printers; and original design manufacturer solutions, which include print heads, power supplies, barcodes, knives, cutters, display units, and other modules. The firm has operations in the Americas, Europe, Middle East and Africa, and Asia-Pacific regions.

Daiichikosho Co Ltd is a Japanese electronics company engaged. It is engaged in the manufacturing, sale, and leasing of karaoke software and equipment. The company businesses include Professional karaoke business; Karaoke/restaurant business; Record label business; Elder business; Franchise business; Parking business; BGM broadcasting business; and Web business.

B.TECH is a Cairo-based retailer of household appliances and consumer electronics with over 50 stores across Egypt. It sells brands like Samsung, LG, Whirlpool, and Sharp, offering refrigerators, TVs, washing machines, and air conditioners with financing options. Founded in 2016, B.TECH holds a leading market share in Egypt's retail sector.

Nothing is a London-based consumer electronics company founded in 2020 by Carl Pei, the former OnePlus co-founder. It designs smartphones, wireless earbuds, and other connected hardware, positioning itself as a design-focused challenger to established brands like Apple and Samsung. The company's debut product was the ear (1) earbuds, and it has since expanded into AI-centric devices while building its identity around design differentiation and community engagement.

Jiangsu New Vision Automotive Electronics Co Ltd is principally engaged in research and development and production and sale of head-up display (HUD) solutions, testing solutions and other initiatives. The company provides solutions that are centered on CyberLens, its windshield HUD (W-HUD) solution, and CyberVision, its augmented reality HUD (AR-HUD) solution, supplemented by testing solutions and other visual technology initiatives. It derives revenue from the Sales of HUD solutions, mainly from CyberLens.

Edifier Technology Co Ltd, a Chinese company, is principally engaged in the research and development of audio technology and its product applications. The company's core business products are professional multimedia audio and home audio equipment. It offers headphones, bookshelf speakers, computer speakers, TV and Home theater, sound bar, and other products. It sells its products in China and other countries.

Tianjin-based Leshi Zhixin Electronic Technology manufactures smart televisions as part of the former Le.com ecosystem. The company produces Android-based TVs with EUI operating system for the Chinese market.

Primax Electronics Ltd is a manufacturer of components for mobile devices, personal computer peripherals, business equipment, and the digital home, that operates in two business segments; The division for computer peripherals specializes in the manufacture and sale of computer mice, keyboards, trackpads, etc. The division for non-computer peripherals specializes in the manufacture and sale of digital camera modules, mobile phone accessories, multi-function printers, scanners, shredders, amplifiers, speakers and audio systems, etc. The company derives the majority of its revenue from the non-computer peripherals segment. Geographically, it derives maximum revenue from China.

Skyworth Group Ltd is principally engaged in the manufacture and sales of smart TV systems, home access systems, smart white appliances, intelligent manufacturing, internet value-added services, property development, property holding, photovoltaic products, modern services, and trading of other products. The company has three operating segments: Smart systems technology business, New energy business, and Smart household appliances business. The Group’s operations are located in the PRC, Asia (other than the PRC), the Americas, Europe, Africa, and other regions, and it derives a majority of its revenue from the People’s Republic of China.