QBit welcomes new investor AB Value Capital Partners and welcomes back Simon Shen as Chairman and CEO
QBit is very pleased to announce that AB Value Capital Partners (ABV) has acquired 81% of QBit shares and Simon Shen has returned to QBit as Chairman and CEO.
ABV is a private equity firm founded in 2003 and based in Japan, Taiwan and Singapore that specializes in Asia companies.
Simon Shen, former CEO of New Kinpo Group (NKG), started QBit in 2016 with a team of former Qualcomm engineers and was QBit’s Chairman and CEO until leaving NKG in 2020. Simon now returns to QBit as Chairman and CEO, bringing his vision, valued experience and financial resources for accelerating growth of electronics companies. NKG, after deciding to step back from investing in semiconductor design, will retain 19% of QBit shares going forward.
These changes strengthen QBit’s abilities to continue fulfilling our mission of designing innovative system-on-chip (SOC) solutions and supporting our customers for long-term mutual success.