BEIJING, Dec. 12, 2021 /PRNewswire/ -- Cloopen Group
Holding Limited ("Cloopen" or the "Company") (NYSE: RAAS), a
leading multi-capability cloud-based communications solution
provider in China, today announced
that it has entered into a definitive agreement to acquire the
entire equity interests of Zhuge Inc. ("Zhuge"), a user-centric
intelligent data solution provider, for a mix of cash and shares
consideration. The shares issued will account for less than 1% of
the Company's outstanding share capital on a fully-diluted basis.
The shares will be issued under a private placement pursuant to an
exemption or exclusion from the registration requirements under the
Securities Act of 1933, as amended.
The transaction is expected to be completed in December 2021, subject to customary closing
conditions. There is no assurance that the transaction will be
completed within the anticipated timeframe, or at all. Shareholders
are cautioned not to place undue reliance on this announcement.
Mr. Changxun Sun, the Company's Founder, Chairman of Board of
Directors and Chief Executive Officer, commented, "We are thrilled
to welcome Zhuge to our group. Over the past six years, Zhuge has
dedicated itself to assisting clients in achieving data-driven
growth, echoing our commitment to drive the digital transformation
of our enterprise customers. To that end, Zhuge has continuously
upgraded and innovated its products with a view to support more use
cases. We expect the integration of Zhuge to strengthen our data
capability and reinforce our competitive edge in intelligent
enterprise marketing and customer service solutions. Going forward,
together with Zhuge, we will offer a more comprehensive and
synergistic product portfolio leveraging our respective expertise
in enterprise communications and data intelligence."
Mr. Miao Kong, the Founder and Chief Executive Officer of Zhuge,
commented, "As one of the first user-centric behavior analysis
platforms in China, we have
accumulated extensive knowledge in behavioral analytics and
customer data management. Enterprises in China have undergone digital transformation
with an increasing focus on improving the customer experience and
operational efficiency by applying data-driven insights. Together
with Cloopen, we believe that we will be able to capitalize on this
industry trend and provide enterprises with more advanced
intelligent data products and services."
About Cloopen
Cloopen Group Holding Limited is a leading multi-capability
cloud-based communications solution provider in China offering a full suite of cloud-based
communications solutions, covering communications platform as a
service (CPaaS), cloud-based contact centers (cloud-based CC), and
cloud-based unified communications and collaborations (cloud-based
UC&C). The Company's mission is to enhance the daily
communication experience and operational productivity for
enterprises. The Company aspires to drive the transformation of
enterprise communications industry by offering innovative marketing
and operational tactics and SaaS-based tools.
For more information, please visit
https://ir.yuntongxun.com.
About Zhuge
Zhuge Inc. is a user-centric intelligent data solution provider
headquartered in China. Zhuge
focuses on providing integrated one-stop data collection,
management and journey analytics products and solutions that are
easy to use and cover the entire user lifecycle. Leveraging
insights into user behavioral data, Zhuge assists enterprises in
improving marketing strategies and upgrading product portfolios.
Zhuge serves enterprises of all sizes through public cloud SaaS
development and private cloud deployment.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and 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. Cloopen may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about Cloopen's
beliefs and expectations as well as its financial outlook, are
forward-looking statements. These forward-looking statements are
based on the Company's current expectations and involve factors,
risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Such
factors, risks and uncertainties include, but not limited to the
following: Cloopen's goals and strategies; its expectations
regarding demand for and market acceptance of its brand and
services; its ability to attract new customers or retain existing
ones; its ability to continue developing solutions and the markets
its solutions target; its ability to maintain collaborations with
mobile network operators; its ability to enhance or upgrade its
existing solutions and introduce new ones in a timely and
cost-effective manner; its ability to maintain the compatibility of
its solutions across devices, business systems and applications and
physical infrastructure; relevant government policies and
regulations relating to Cloopen's corporate structure, business and
industry, as well as the industries in which its customers operate;
and general economic and business condition in China. Further information regarding these and
other risks, uncertainties or factors is included in Cloopen's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release is current as of the
date of the press release, and Cloopen does not undertake any
obligation to update such information, except as required under
applicable law. All forward-looking statements are qualified in
their entirety by this cautionary statement, and you are cautioned
not to place undue reliance on these forward-looking
statements.
Company Contact
In China:
Cloopen Group Holding Limited
Investor Relations
E-mail: ir@yuntongxun.com
The Piacente Group, Inc.
Yang Song
Tel: +86-10-6508-0677
E-mail: raas@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: raas@tpg-ir.com
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SOURCE Cloopen Group Holding Limited