ECARX (ECARX) Acquires DreamSmart's Flyme Software Business for $266 Million

ECARX Holdings Inc. (ECARX) has agreed to acquire the Flyme Auto core technology and related software business from DreamSmart Technology (Holdings) Ltd. for $266 million in cash. The acquisition, announced on June 22, 2026, aims to bolster ECARX's automotive intelligence capabilities and global market expansion. ECARX shares rose in pre-market trading following the news. DreamSmart, a subsidiary of Zhejiang Geely Holding Group, will become a strategic long-term customer of ECARX post-acquisition. The definitive agreement was signed, with the transaction expected to close in the third quarter of 2026. This acquisition is poised to integrate Flyme's advanced software solutions into ECARX's existing portfolio, enhancing its offerings for smart vehicle cockpits. The move signifies ECARX's strategic focus on expanding its technology footprint within the rapidly evolving automotive intelligence sector.