V99, a Delaware corporation led by Telenav CEO HP Jin, completed the acquisition of Telenav, a wireless location-based services corporation, for $241m. The per share purchase price represented a premium of approximately 33.3% over Telenav’s closing stock price on October 1, 2020. "Today’s announcement represents an exciting new chapter for Telenav. As a private company, we will have the resources and flexibility to continue our growth and execute on our OEM-centric, connected-car strategy as the market for connected-car capabilities continues to expand. I would like to thank the Special Committee for taking the time to thoroughly evaluate and review V99’s offer and Telenav’s employees for their continued focus throughout this process. I am honored to continue leading Telenav through its next phase of growth and success, and I am confident Telenav will thrive as a privately held company," HP Jin, Telenav Co-Founder, President and CEO.