BRIEF: Synagistics eyes major Chinese SaaS acquisition
Southeast Asian e-commerce company Synagistics Ltd. (2562.HK) announced on Monday that it has agreed to acquire 80% or more of a major Chinese software as a service (SaaS) platform, with final consideration still under negotiation.
According to the announcement, the target is a leading SaaS provider in China, offering omnichannel digital commerce, smart retail, and supply chain solutions to enterprises and businesses. The company holds a significant market share in China’s SaaS industry, serving over 30,000 enterprise clients. Its platform processes more than 4 billion orders annually, with a gross merchandise volume (GMV) exceeding 500 billion yuan（$69.59 billion）.
Synagistics said the proposed acquisition is expected to enhance its business scale and operational performance, laying a solid foundation for accelerating enterprise AI applications and innovation.
Synagistics’stock opened 8.2% higher on Monday and closed up 3.61% at HK$14.92 by the midday break.
By Lee Shih Ta
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
BRIEF: Synagistics’ shares surge on acquisition plan
2562.HK -
BRIEF: Synagistics to acquire Chinese AI firm for $30 million
2562.HK
-
BRIEF: Synagistics forms AI partnership with ByteDance
2562.HK
-
ZG Group set to forge Hong Kong’s second De-SPAC listing
2572.HK
-
Polibeli targets SPAC listing using Chenghe Acquisition II Co., with Asia in its sights
CHEB.US
-
Seyond may get stuck in slow-moving SPAC lane to Hong Kong listing
7855.HK
-
Weimob gets early Christmas ‘gift’ from WeChat
2013.HK
