Suzhou Sidake Digital Technology Co., Ltd. and Bain Capital Private Equity, LP signed a share transfer agreement to acquire Xiamen Qinhuai Technology Co., Ltd. from Wangsu Science & Technology Co.,Ltd. for CNY 990 million.
January 03, 2019
Share
Suzhou Sidake Digital Technology Co., Ltd. and Bain Capital Private Equity, LP signed a share transfer agreement to acquire Xiamen Qinhuai Technology Co., Ltd. from Wangsu Science & Technology Co.,Ltd. (SZSE:300017) for CNY 990 million on December 31, 2018. In a related transaction, Wangsu Science & Technology Co.,Ltd. signed a share transfer agreement to acquire 10% stake in Xiamen Qinhuai Technology Co., Ltd. from Ju Jing for CNY 99 million and Stand (Beijing) Digital Technology Co., Ltd. signed a share transfer agreement to acquire Beijing Qinhuai Technology Co., Ltd. and Shenzhen Qinhuai Technology Co., Ltd. from Xiamen Qinhuai Technology Co., Ltd. for approximately CNY 230 million. As on June 30, 2018, Xiamen Qinhuai Technology Co., Ltd. had total assets of CNY 969.7 million and net assets of CNY 146.2 million. The transaction has been approved by the Board of Wangsu Science & Technology Co.,Ltd. As of February 27, 2019, Bain Capital Private Equity, LP completed the acquisition of majority stake in acquire Xiamen Qinhuai Technology Co., Ltd. from Wangsu Science & Technology Co.,Ltd.
Wangsu Science & Technology Co., Ltd. specializes in telecommunication services for telecom operators, internet service providers, video game and software publishers. Net sales break down by activity as follows:
- development of digital content distribution solutions and services (90.7%): publishing of content (videos, music, catalogs, software, files, etc.) through the Content Delivery Network (CDN). The group also offers website acceleration, security and optimization services;
- web hosting and cloud computing services (9%);
- other (0.3%): software development, sales of telecommunication equipment, etc.
China accounts for 67.6% of the net sales.
Suzhou Sidake Digital Technology Co., Ltd. and Bain Capital Private Equity, LP signed a share transfer agreement to acquire Xiamen Qinhuai Technology Co., Ltd. from Wangsu Science & Technology Co.,Ltd. for CNY 990 million.
WANGSU SCIENCE & TECHNOLOGY CO.,LTD. 
