(Yicai Global) July 20 -- French auto parts supplier Faurecia said it has acquired control of Chinese private company Jiangxi Coagent Electronics Co. for CNY1.45 billion (USD214 million).

Jiangxi Coagent is a provider of on-board entertainment systems and automotive interior electronic products. Its business involves digital displays and consolidation of human-machine interface technologies. With nearly 1,300 employees, including over 300 engineers, the company set up its research and development center in Foshan in southeastern China's Guangdong province, with its industrialized production base in Jiangxi province.

Jiangxi Coagent supplies products to several leading Chinese carmakers, with sales of CNY1.15 billion last year. Its sales are expected to reach CNY2.1 billion by 2019.

Faurecia and Jiangxi Coagent will share business and industry strategy and mobilize their nearly 700 engineers to develop a joint technology, to be completed by mid-2018, Patrick Koller, chief executive of the French company, said in a press release.