Fake News About Espressif Systems

Shanghai, China
Apr 20, 2018

Espressif emphatically states that the recent rumours about its acquisition by the Alibaba Group could not be further from reality.

On Friday morning, April 20, it was brought to our attention that a piece of fake news about Espressif was being widely circulated on the Chinese media. Our company was allegedly acquired by the Alibaba Group for RMB 5 bn. 

Our PR and Media Department was quick to respond by issuing an official refutation on WeChat, the hugely popular Chinese social media platform. Our statement translates as: “Regarding today’s news about the Alibaba Group having recently spent RMB 5 bn on acquiring Espressif Systems (Shanghai) Co., Ltd., we should like to emphasize that this piece of news is utterly fake, despite having attracted many people’s attention. There is absolutely no acquisition of Espressif Systems by the Alibaba Group”.

It is sad that fake news about our company has been spreading around. However, we would like to reassure our customers, supporters and partners that Espressif Systems intends to continue being an independent company. We serve, and are inspired by, the global maker community, which we shall continue providing with open-source code, as well as with fast, secure and green IoT technologies.

In recent years, we became known for providing the best IoT devices and software platforms in the industry at the most competitive prices. We shall continue in the same direction. At the same time, we intend to strengthen our R&D capabilities and expand in the field of Artificial Intelligence. 

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