Core Viewpoint - iClick Interactive Asia Group Limited has announced the sale of its equity interest in Tetris Media Limited to BeihaiOne Limited, aiming to optimize operations and enhance profitability in response to market trends in the SaaS sector [1][2][3] Company Strategy - The disposal of Tetris and its subsidiaries is part of a strategic move to realign the company's focus and improve operational efficiency [2][3] - The company will continue its enterprise solutions business in Hong Kong and marketing solutions business in mainland China, Hong Kong, and overseas after the disposal [2] Financial Details - The consideration for the disposal is US$80,000, which reflects the market value of Tetris and its subsidiaries as assessed by an independent third-party valuer [3] - The decision to dispose of Tetris was approved by the company's board of directors following recommendations from the audit committee [3] Market Context - The CEO of iClick highlighted that uncertain macroeconomic conditions and intense competition in the SaaS market have led to reduced segment margins and operating cash flows [3] - The company is committed to ongoing cost optimization efforts to enhance operational efficiency and financial performance [3] Company Background - iClick Interactive Asia Group Limited, founded in 2009, is a leading enterprise and marketing cloud platform in China, focusing on empowering brands with data-driven solutions [4]
iClick Interactive Asia Group Limited Announces Disposal of Its Mainland China Enterprise Solutions Business