VOBILE GROUP SECURES MORE THAN US$127 MILLION IN ACQUISITION FINANCING THROUGH HSBC
Vobile Group Limited (OTCQX: VOBIF) has secured over US$127 million in financing for its acquisition of Particle Culture Technology Group in mainland China. Led by HSBC, this bespoke package supports Vobile's growth strategy amid a rapidly changing technology landscape. CEO Yangbin Wang highlighted the financing's potential to accelerate growth, while HSBC's support underscores their commitment to new economy sectors. This collaboration aims to enhance Vobile's positioning in the competitive Chinese market.
- Secured over US$127 million in acquisition financing, enabling expansion into mainland China.
- Tailored financial support from HSBC boosts business growth opportunities.
- Collaboration with HSBC enhances strategic positioning in the technology sector.
- None.
SANTA CLARA, Calif., April 25, 2022 /PRNewswire/ -- Vobile Group Limited (SEHK: 3738; OTCQX: VOBIF), a global leader in Software-as-a-Service for online video content protection and monetization, has secured more than US
"Having the full support of HSBC, one of the largest global banking and financial services organizations, is opening up a world of growth opportunities for Vobile," stated Yangbin Wang, Chairman and CEO of Vobile Group, "The financing solution provided by HSBC Commercial Banking enables us to move forward with the closing of the announced major acquisition, which will further accelerate our business growth in China. We look forward to expanding our collaboration with HSBC in the future."
Frank Fang, General Manager and Head of Commercial Banking, Hong Kong and Macau, HSBC, said: "Technology and innovation are one of the key drivers of the Mainland's economy. HSBC is delighted to arrange a tailored financing solution for Vobile, elevating our relationship by further supporting its business ambition to expand into mainland China. This transaction also reflects the Bank's strategic commitment to helping entrepreneurs and new economy sectors connect to new opportunities through our global network and financial expertise. "
As its key banking partner, HSBC has supported Vobile's growth journey from the outset since 2015, providing wide range of services throughout its business lifecycle. On top of acquisition financing, the Bank provided capital expenditure facility under the HSBC GBA+ Technology Fund last year, a debt financing scheme that supports high growth companies in the new economy in the Guangdong-Hong Kong-Macao Greater Bay Area.
For media and investor inquiries, please contact: PR@VobileGroup.com
Vobile is a worldwide leader in Software-as-a-Service for online video content protection and monetization. Its best-in-class SaaS platforms are widely used by movie studios, television networks and record labels, enabling effective content protection for rightsholders and accelerating their revenue growth in digital economy. Vobile has global operations across continents in North America, Asia, Australia and Europe.
View original content to download multimedia:https://www.prnewswire.com/news-releases/vobile-group-secures-more-than-us127-million-in-acquisition-financing-through-hsbc-301531589.html
SOURCE Vobile, Inc.
FAQ
What acquisition did Vobile Group announce in April 2022?
How much financing did Vobile secure for its acquisition?
Who led Vobile's acquisition financing?
What is the strategic importance of Vobile's acquisition?
How does HSBC support Vobile Group's growth?
