iClick Interactive Asia Group Limited (“iClick” or the “Company”) (NASDAQ: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, announced today that its wholly-owned subsidiary has entered into an agreement to acquire the remaining equity interest of Changyi (Shanghai) Information Technology Co., Ltd (“Changyi”), a leading independent software vendor (“ISV”) in China which provides intelligent retail and CRM solutions (the “Acquisition”). In consideration of the Acquisition, the Company will pay (i) RMB6,000,000 and the Company will issue (ii) 3,091,327 American depository shares (the “Consideration ADS”) of the Company. Changyi is currently a controlled investee of the Company. Upon completion of the proposed transaction, Changyi will be wholly owned by the Company.
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The acquisition will allow iClick to accelerate the expansion of its Enterprise Solutions business, spearheaded by its newly established “SaaS + X” business model which aims to help companies strengthen their productivity and enhance their private domain through effective key opinion leader (“KOL”) recommendations, efficient targeted marketing and e-commerce partnerships while integrating data assets and solidifying their brand profiles.
“The demand for private domain traffic remains strong and we are capitalizing on this trend through continued investment in our Enterprise Solutions business,” said Jian “T.J.” Tang, Chairman, Chief Executive Officer and Co-Founder of iClick. “The acquisition of the remaining shares of Changyi will accelerate the evolution of our Enterprise Solutions and better help our clients to innovate through digital transformation.”
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