A tech company’s $5.5bn bid for Kandi Technologies’ shift technology stock

Kandi, an Australian technology company, has agreed to pay a $5bn cash offer to buy Kandi’s shift technology business, The Wall Street Journal reported.

The deal is part of an $11bn investment Kandi made in the company in July.

The company has an engineering and software division, and the cash offer is part, Kandi said in a statement.

Kandi has been in talks with Google for a while about the purchase of its shift technology unit, but the discussions have been on hold as the search giant has been battling against a series of privacy concerns from privacy-focused investors.

 “The offer was structured in a way that the company was able to fully understand its position in the marketplace and make a fair, strategic and informed offer,” Kandi CEO John Goss told The Wall St Journal.

“We were willing to enter into a competitive offer that would allow us to provide Kandi with the technology we need to further its business and help us grow its technology business.”

The Kandi deal comes on the heels of a $2bn buyout of Kandi by Microsoft Corp (MSFT).

The deal also comes after Kandi announced last month that it would acquire rival technology firm Leap Motion, which has been at the centre of privacy and data protection concerns in the US.

Leap Motion is a motion sensing company that was founded in 2011 by a team of former Apple employees.

Leap motion has been accused of failing to provide adequate security to customers data, and is facing lawsuits from privacy advocates who claim it breaches the privacy of the US public.