iClick Interactive Deepens Commitment to Smart Retail Leadership through Expanded Stake in Changyi
On October 12, 2020, iClick Interactive Asia Group Limited (NASDAQ: ICLK) announced an increased controlling interest in Changyi, a leading software vendor in China focusing on intelligent retail and CRM solutions. This acquisition enhances iClick's Enterprise Solutions with data analytics and social e-commerce capabilities, aiding brands in adapting to market changes accelerated by COVID-19. iClick aims to launch products on multiple platforms to boost sales and expects to leverage synergies from Changyi for regional expansion, particularly in the ASEAN market.
- Increased controlling interest in Changyi enhances iClick's Enterprise Solutions.
- Combining Changyi's expertise in social e-commerce with iClick's data analytics improves service offerings.
- Plans to launch products on four key platforms for better sales performance.
- Anticipates synergies from Changyi to support expansion into the ASEAN market.
- None.
HONG KONG, Oct. 12, 2020 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (NASDAQ: ICLK), an independent online marketing and enterprise data solutions provider in China, today announced that it has increased its controlling interest in Changyi (Shanghai) Information Technology Co., Ltd ("Changyi"), a leading independent software vendor ("ISV") in China which provides intelligent retail and CRM solutions, through which iClick has further enhanced its data-driven Enterprise Solutions business.
iClick's increased ownership and new investment funding enables continual strategic alignment and business growth between the two companies, combining Changyi's expertise in social e-commerce solutions and iClick's superior data analytics capabilities, as well as their client bases and resources. iClick is confident that its Enterprise and Marketing Cloud Platform offers leading integrated consumer full-cycle solutions to help brands quickly adapt to rapid market changes and make smart and efficient operational decisions, especially as the trend towards digitalization has been accelerated by the COVID-19 pandemic. With its commitment in providing tailored digitalization services to brand customers, iClick will integrate and launch products on four key platforms – Programmatic Marketing Platform, Consumer Experience Platform, Social Commerce Platform, and Consumer Lifecycle Data Management Platform – which empower clients to boost sales from different combinations of product lines.
Building on its success in the China market, iClick also anticipates the synergies generated from its increased stake in Changyi will help it expand into the regional market as well, especially the ASEAN market where the Company has already formed strategic partnerships with top local partners.
"Our clients are continually looking for ways to increase operational and marketing efficiencies as they tackle the challenges of doing business in China and the region," said Jian "T.J." Tang, Chief Executive Officer and Co-Founder of iClick. "Through expanding our stake in Changyi, we will be better positioned to continually enhance our existing Enterprise SaaS solutions and advanced omni-channel automated marketing data services allowing us to effectively address the demand that we are seeing."
T.J. continued, "iClick's Enterprise Solutions offering has generated strong demand for clients targeting the China market, and we are very optimistic about its prospects in the ASEAN market, where we already have signed on leading local partners. Looking ahead, we would like to reiterate our commitment and relentless efforts towards developing our Enterprise and Marketing Cloud Platform. With the resources from our recent financing activities, we will speed up our investment organically in both R&D and inorganically in exploring M&A opportunities to support rapid regional growth."
About iClick Interactive Asia Group Limited
iClick Interactive Asia Group Limited (NASDAQ: ICLK) is an independent online marketing and enterprise data solutions provider that connects worldwide marketers with audiences in China. Built on cutting-edge technologies, our proprietary platform possesses omni-channel marketing capabilities and fulfils various marketing objectives in a data-driven and automated manner, helping both international and domestic marketers reach their target audiences in China. Headquartered in Hong Kong, iClick was established in 2009 and is currently operating in ten locations worldwide including Asia and Europe.
For more information, please visit ir.i-click.com.
About Changyi
Changyi (Shanghai) Information Technology Co., Ltd. ("Changyi") is a subsidiary of iClick Interactive Asia Group Limited (NASDAQ: ICLK). It is a designated independent software vendor for Tencent's Smart Retail, and a service provider for Tencent Cloud, Tencent's Smart Retail, WeCom, WeChat Pay, Tencent Live and Mini Programs platforms. Based on the WeChat ecosystem, Changyi provides enterprises with smart retail solutions to serve high-net-worth consumers, helping build connections with consumers and providing data intelligence and tailored operation services. Changyi helps brands retain consumers, manage social e-commerce traffic, lock in super users, and realize growth from smart retail. In the six years since its foundation, Changyi has expanded its clients worldwide including a number of tier-1 luxury brands as well as renowned brands in retail and other sectors.
Safe Harbor Statement
This announcement contains forward-looking statements, including those related to the Company's business strategies, operations and financial performance. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's fluctuations in growth; its success in implementing its mobile and new retail strategies, including extending its solutions beyond its core online marketing business; its success in structuring a CRM & Marketing Cloud platform; relative percentage of its gross billing recognized as revenue under the gross and net models; its ability to retain existing clients or attract new ones; its ability to retain content distribution channels and negotiate favorable contractual terms; market competition, including from independent online marketing technology platforms as well as large and well-established internet companies; market acceptance of online marketing technology solutions and enterprise solutions; effectiveness of its algorithms and data engines; its ability to collect and use data from various sources; ability to integrate and realize synergies from acquisitions, investments or strategic partnership; fluctuations in foreign exchange rates; and general economic conditions in China and other jurisdictions where the Company operates; and the regulatory landscape in China and other jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company's annual report on Form 20-F and other filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China: | In the United States: |
iClick Interactive Asia Group Limited | Core IR |
Lisa Li | Tom Caden |
Phone: +86-21-3230-3931 #892 | Tel: +1-516-222-2560 |
E-mail: ir@i-click.com | E-mail: tomc@coreir.com |
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SOURCE iClick Interactive Asia Group Limited
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