HONG
KONG, July 19, 2024 /PRNewswire/ -- iClick
Interactive Asia Group Limited ("iClick" or the "Company") (NASDAQ:
ICLK), a leading enterprise and marketing cloud platform in
China that empowers worldwide
brands with full-stack consumer lifecycle solutions, today
announced that Optimix Media Asia Limited, a wholly-owned
subsidiary of the Company, entered into a share purchase agreement
on July 19,
2024 to sell all of its equity interest in
Tetris Media Limited ("Tetris") to BeihaiOne Limited (the
"Disposal").
Tetris and its subsidiaries are the primary entities through
which the Company delivers its enterprise solutions business in
mainland China. This strategic
move aims to optimize the Company's operations based on the
performance of business units, enhance profitability, and realign
the business focus to meet market trends and demand in the SaaS
sector. After the Disposal, the Company will continue to operate
its enterprise solutions business in Hong
Kong and marketing solutions business in mainland
China, Hong Kong and overseas.
Mr. Jian Tang, iClick's Chief
Executive Officer and Co-Founder, said, "The uncertain
macroeconomic conditions and the intense competition in the SaaS
market in mainland China have
resulted in diminished segment margins and operating cashflows.
Given the limited growth opportunity, our board of directors has
decided to dispose of Tetris and its subsidiaries. We will continue
our cost optimization efforts to drive greater operational
efficiency, and enhance the Company's capabilities and
sustainability. We believe these will help the Company ultimately
enhance financial performance as well as drive returns to the
shareholders."
In connection with the Disposal, the Company engaged an
independent third-party valuer to evaluate the market value of
Tetris and its subsidiaries. The consideration of the Disposal is
US$80,000, which is commensurate with
the equity value of Tetris and its subsidiaries as calculated by
the independent third-party valuer. The Disposal was approved by
the board of directors of the Company, upon the recommendation and
approval of the audit committee of the board of directors.
About iClick Interactive Asia Group Limited
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 ten locations across
Asia and Europe. For more information, please visit
ir.i-click.com.
Safe Harbor Statement
This press release 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 ability to continue as a going concern;
its ability to secure adequate working capital and maintain
sufficient liquidity; its fluctuations in growth; 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; 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; 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, uncertainties or factors is included in the Company's
filings with the SEC. All information provided in this press
release is current 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
|
Catherine
Chau
|
Tom Caden
|
Phone: +852 3700
9100
|
Phone:
+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