iClick (NASDAQ: ICLK) is a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions. The company today announced that its wholly owned subsidiary, Optimix Media Asia Limited, entered into a share purchase agreement on July 19, 2024, to sell its equity interest in Tetris Media Limited to BeihaiOne Limited. According to the announcement, iClick delivers its enterprise solutions in mainland China primarily through Tetris and its subsidiaries. The announcement noted that this strategic move is intended to optimize the company’s operations based on the performance of business units, improve profitability, and realign the business focus to meet market trends and demands in the SaaS sector. Following the sale, iClick will continue to operate its enterprise solutions business in Hong Kong and marketing solutions business in mainland China, Hong Kong and overseas. “The uncertain macroeconomic conditions and the intense competition in the SaaS market in mainland China have resulted in diminished segment margins and operating cashflows. Given the limited growth opportunity, our board of directors has decided to dispose of Tetris and its subsidiaries. We will continue our cost optimization efforts to drive greater operational efficiency, and enhance the company’s capabilities and sustainability. We believe these will help the company ultimately enhance financial performance as well as drive returns to the shareholders,” said Mr. Jian Tang, iClick’s CEO and Co-Founder.
To view the full press release, visit https://ibn.fm/1oznk
About iClick Interactive Asia Group Limited
iClick is a leading enterprise and marketing cloud platform in China. The company’s mission is to empower worldwide brands to unlock the enormous market potential of smart retail. With its leading proprietary technologies, iClick’s full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. Headquartered in Hong Kong, iClick currently operates in 11 locations across Asia and Europe. For more information, please visit ir.i-Click.com.
NOTE TO INVESTORS: The latest news and updates relating to ICLK are available in the company’s newsroom at http://ibn.fm/ICLK
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