iClick Interactive Asia Group Announces Execution Of Definitive Agreement For Disposal Of Its Demand Side Marketing Solutions Business In Mainland China; To Support The Ongoing Business Operation Of The Disposed Business, Prior To The Closing Of The Disposal, The Co Shall Provide A Loan To The Disposed Business In A Principal Amount Of RMB20 Million With A Term Of 6-Months
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iClick Interactive Asia Group Limited (NASDAQ: ICLK) has announced a definitive agreement to sell its demand side marketing solutions business in mainland China to SiAct Inc. for RMB1 million. This move is part of iClick's strategy to scale down lower-margin, higher-risk businesses and focus on higher-margin services. The company will provide a RMB20 million loan to support the disposed business during the transition. iClick aims to enhance shareholder value by optimizing operations and exploring strategic growth opportunities.
September 11, 2024 | 1:29 pm
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iClick Interactive is selling its demand side marketing solutions business in China to SiAct Inc. for RMB1 million. This aligns with iClick's strategy to focus on higher-margin services and optimize operations. The company will provide a RMB20 million loan to support the transition.
The sale of the demand side marketing solutions business is a strategic move by iClick to focus on higher-margin services, which is likely to be viewed positively by investors. The provision of a loan to support the transition indicates a commitment to a smooth handover, reducing potential risks. This move aligns with the company's strategy to optimize operations and enhance shareholder value, which could lead to a positive short-term impact on the stock price.
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