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Friday, January 27, 2023

iClick (NASDAQ: ICLK) Buy Changyi

iClick Interactive Asia Group Limited (NASDAQ: ICLK) has confirmed that its wholly-owned subsidiary has into an agreement to buy the remaining equity interest of Changyi (Shanghai) Information Technology Co., Ltd (Changyi) which is a prominent independent software vendor (ISV) in China which offers intelligent retail and CRM solutions.

The acquisition of Changyi will enable iClick to expand its Enterprise Solutions business, which will be led by its newly established “SaaS + X” business model. It aims to help businesses improve their productivity and private domain through effective key opinion leader (KOL) recommendations, efficient targeted marketing, and e-commerce collaborations, all while incorporating data assets and solidifying brand profiles.

Shares of iClick Interactive Asia Group Limited surged 0.01% at the time of writing on Monday. The positive performance of the company’s share indicates that the purchase of Changyi’s remaining shares will help ICLK expedite the evolution of its Enterprise Solutions and better assist its clients in their digital transformation efforts.

Transaction Overview

As per the agreement, the Company will pay RMB6,000,000 and issue 3,091,327 ADS (the Consideration ADS) of the Company in exchange for the Acquisition. Changyi is presently a Company controlled investee. Furthermore, Changyi will be entirely owned by the Company after the proposed acquisition is completed.

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