CLPS Incorporation Announces Strategic Investment in UniDev to Further Enhance Its Capability in IT Solution Delivery
CLPS Incorporation (Nasdaq: CLPS) announced a strategic investment, acquiring a 15% ownership stake in Beijing UniDev Software Co., Ltd. through its subsidiary ChinaLink Professional Services. This partnership aims to enhance CLPS's IT solution delivery capabilities, focusing on digital transformation solutions for banks and companies in Mainland China. Both companies intend to collaborate on R&D for technology-based products, which is expected to drive revenue and expand market share domestically and internationally.
- Acquisition of a 15% stake in UniDev enhances CLPS's capabilities in IT solution delivery.
- Strategic partnership allows for joint R&D in technology-based products, potentially leading to innovation.
- Expected to drive revenue growth and market share expansion in China and abroad.
- None.
HONG KONG, July 14, 2021 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced that, through its wholly-owned subsidiary in early this month, it has signed a definitive agreement with Beijing UniDev Software Co., Ltd. ("UniDev"), a Beijing-based IT services and solutions provider. Upon closing of the transaction, CLPS, through its wholly owned subsidiary, ChinaLink Professional Services Co. Ltd., will hold
UniDev is focused on providing customized digital transformation solutions to companies and banks in Mainland China. It leverages its extensive experience to develop applications including intelligent emergency response system, safety production monitoring system, and intelligent finance solutions, among others. UniDev also explores the utilization and integration of artificial intelligence and big data applications into its solutions.
Mr. Yan Wang, General Manager of UniDev, said, "Our partnership with CLPS will allow us to create a firm foundation to venture into more competitive IT solutions. In addition, we are looking forward to our joint efforts in the research and development of new technology-based products. We believe that this strategy will enable us to achieve business growth both in the domestic and international markets."
Mr. Raymond Lin, Chief Executive Officer of CLPS, said, "UniDev is in the height of a rapid business development. It maintains highly qualified team of IT professionals and it successfully delivers IT solution services to its client base in the market vertical. With the competitive advantages of both parties, we expect that this strategic investment will drive the revenue and margin of our customized IT solution services in an upward trend. In addition, it will further expand our market share in China and likewise gain a strong foothold for our overseas expansion."
About CLPS Incorporation
Headquartered in Hong Kong, CLPS Incorporation (the "Company") (Nasdaq: CLPS) is a global leading information technology ("IT") consulting and solutions service provider focusing on the banking, insurance, and financial service sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial service industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong SAR, and their PRC-based IT centers. The Company maintains 19 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Baoding, Xi'an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining eight global centers are located in Hong Kong SAR, USA, UK, Japan, Singapore, Malaysia, Australia, and India. For further information regarding the Company, please visit: https://ir.clpsglobal.com/, or follow CLPS on Facebook, LinkedIn, and Twitter.
Forward-Looking Statements
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance. Known and unknown risks, uncertainties and other factors, which may be beyond the Company's control, may cause the actual results and performance of the Company to be materially different from such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company's expectations of the Company's future growth, performance and results of operations, the Company's ability to capitalize on various commercial, M&A, technology and other related opportunities and initiatives, as well as the risks and uncertainties described in the Company's most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
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SOURCE CLPS
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