Sequoia China Completes Acquisition of Controlling Stake in PeierTech

36Kr reports that Sequoia China announced it has completed its controlling acquisition of Jiangyin Peier Technology Co., Ltd. (PeierTech) and its wholly-owned subsidiaries at the end of September. Following the transaction, Sequoia China will hold approximately 80% of PeierTech's equity, while the existing management team retains the remaining shares and will continue to oversee daily operations. Sequoia China will also provide a market-based equity incentive plan to the core management team.