iClick Interactive Asia disposing of mainland China enterpise solutions business

iClick Interactive Asia’s wholly-owned subsidiary Optimix Media Asia entered into a share purchase agreement on July 19 to sell all of its equity interest in Tetris Media to BeihaiOne. Tetris and its subsidiaries are the primary entities through which the company delivers its enterprise solutions business in mainland China. This strategic move aims to optimize the company’s operations based on the performance of business units, enhance profitability, and realign the business focus to meet market trends and demand in the SaaS sector. After the Disposal, the company will continue to operate its enterprise solutions business in Hong Kong and marketing solutions business in mainland China, Hong Kong and overseas. In connection with the disposal, the company engaged an independent third-party valuer to evaluate the market value of Tetris and its subsidiaries. The consideration of the disposal is $80K.