Shiji Information announced that it will acquire full ownership of Beijing-based Changyi Technologies in a RMB630 million (approx: US$98 million) cash-based acquisition.
Changyi Technologies is a provider of information total solutions and services globally, specifically for retail distribution. It reported net profits of RMB18.7251 million in 2014 and RMB322,800 from January to October 2015.
Shiji Information will integrate the newly acquired Changyi Technologies with its other investment and holdings in the IT sector, including Shenzhen-based SiSS, Guangzhou Tech-Trans Co and eFuture Information Technology, to service the entire Chinese retail industry. Its information system solutions will cover all retail operations, from independent convenience stores to large-scale chain stores. (Translation by David)
