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iClick Interactive Asia Group Limited Announces Execution of Definitive Agreement for Disposal of Its Demand Side Marketing Solutions Business in Mainland China

Sep 11, 2024•over 1 year ago

Contract Type

agreement

Commerce and ShoppingHardwareSoftware

Description

iClick Interactive Asia Group Limited has executed a definitive agreement to sell its demand side marketing solutions business in mainland China to SiAct Inc. at a consideration of RMB1 million or equivalents in US dollars. The disposal is aligned with the company's strategic scale-down of lower-margin and higher-risk businesses in its marketing solutions segment, optimizing its operations, realigning its business focus, and concentrating resources on its service offerings with higher margins and balanced risks.

Company Information

Company

iClick Interactive Asia Group Limited

About

Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a leading enterprise and marketing cloud platform in China. iClick's mission is to empower worldwide brands to unlock the enormous market potential of smart retail. With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. Headquartered in Hong Kong, iClick currently operates in eleven locations across Asia and Europe. For more information, please visit https://ir.i-click.com.

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Based on industry data
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months