A Chinese tech company announced Tuesday that it would invest more than $179 million to increase its stake in online electronics retailer Newegg Inc. to almost 94 percent from 55.7 percent, according to Bloomberg.

Beijing’s Hangzhou Liaison Interactive Information Technology Co., which specializes in mobile software, already invested an undisclosed amount in City of Industry’s Newegg in September to grab the majority stake.

Newegg said at the time that the Chinese firm’s investment would help it expand internationally, offer more products, and further its reach into e-sports, virtual reality, and augmented reality.

The company announced a plan last week to expand its reach to dozens of countries in Asia, Europe, Latin America and the Middle East.

Caroline Anderson is a staff reporter covering restaurants, retail, and hospitality. She can be reached at [email protected].