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Gridsum Enters into Definitive Agreement for Going-Private Transaction
Gridsum, 10/01/20
Beijing-based Gridsum Holding Inc. ("Gridsum" or the "Company") (Nasdaq: GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence ("AI") solutions in China, today announced that it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with Gridsum Corporation ("Parent"), and Gridsum Growth Inc., a wholly owned Subsidiary of Parent, pursuant to which the Company will be acquired by an investor consortium led by Mr. QI Guosheng (the "Chairman"), chairman of the board of directors of the Company (the "Consortium") in an all-cash transaction that values the Company's equity at approximately USD 75.5 mln (the "Merger"). Read More
MIIT: China's Total Number of Large-scale Software Enterprises Reaches 37,776 in 2018
MIIT, 2/01/19
As of the end of 2018, mainland China had 37,776 large-scale software enterprises, reports China's Ministry of Industry and Information Technology (MIIT). Read More
Baidu, Shenzhen Expressway Partner on Smart Highway Design and Operations
Sina Tech, 6/01/18
Chinese internet conglomerate Baidu (Nasdaq: BIDU) and toll highway construction, operation, and management firm Shenzhen Expressway (600548.SH) recently formed a partnership agreement centered on smart transportation, smart environmental protection, and information service upgrades. Read More
CITIC Guoan to Invest USD 20 Mln in American VR Broadcaster NextVR
CITIC Guoan Group, 7/01/16
CITIC Guoan Information Industry (000839.SZ), a subsidiary of CITIC Guoan Group, recently announced that it will invest USD 20 mln in cash through its Shanghai-based subsidiary Muyun Information Technology Investment to subscribe for 3,947,031 Class B Preferred shares of US-based virtual reality live streaming company NextVR, which will give CITIC a 2.27% stake. Read More
Hydropower Equipment Firm Takes 38% Share in 2345.com
Shenzhen Stock Exchange, 8/12/13
Zhejiang-based hydropower equipment manufacturer Fuchunjiang Hydropower Equipment (002266.SZ) has announced that it will purchase a 38% stake in Shanghai Er San Si Wu Network Technology ("2345"), operator of online web directory 2345.com, along with a number of other 2345-branded web products. Read More
China's Jan-Jun 2013 Software Revenues Up 25% YoY
MIIT, 7/29/13
China's Ministry of Industry and Information Technology (MIIT) has released statistics regarding the software industry for January to June 2013, with total national software industry revenue up 25.5% YoY to reach RMB 1.39 trln. Read More
Rumor: China to Announce 50 More 'Smart City' Trial Sites
National Business Daily, 6/18/13
China will complete initial review of a second batch of "smart city" trial sites in late June, and will release a list of roughly 50 new cities in the second half of 2013, an industry source said. Read More
China's Jan-Apr 2013 Software Revenues Up 25% YoY
MIIT, 5/28/13
China's Ministry of Industry and Information Technology (MIIT) has released statistics regarding the software industry for January to April 2013, with total national software industry revenue up 25.2% YoY to reach RMB 858.9 bln. Read More
China's Jan-Mar 2013 Software Revenues Up 25% YoY
MIIT, 4/27/13
China's Ministry of Industry and Information Technology (MIIT) has released statistics regarding the software industry for January to March 2013, with total national software industry revenue up 24.7% YoY to reach RMB 618.9 bln. Read More
Ministry of Finance Penalizes Digital China for Falsified Tender
Sina Tech, 2/06/13
China's Ministry of Finance (MoF) has handed down fines to IT products distributor and IT services and systems integration provider Digital China Holdings (0861.HK). Read More
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