Ant Financial Acquires 5% Stake in Hoperun Software
Hoperun, 6/04/18
Jiangsu-based software outsourcing services provider Hoperun Software (300339.SZ) recently disclosed the signing of a business partnership agreement with Beijing Ant Cloud Financial Information Service, on June 1. Hoperun and Ant Cloud Financial will rely on their relative strengths to achieve a generational upgrade of financial industry IT systems and jointly provide banks and other financial institutes with innovative fintech services, autonomous controllable platforms, and services. Hoperun and Ant Cloud Financial will share technology resources, client resources, and team resources while they jointly build a new model of fintech services and create a financial technology ecosystem.
In a separate deal, Hoperun stakeholders Wang Jie and Xu Xinmiao signed an equity transfer agreement with Shanghai Yunxin Venture Capital Management to sell 40.2 mln tradeable shares, or 5.05% of the company.
Ant Cloud Financial and Yunxin Venture Capital are both fully owned subsidiaries of Ant Financial Group, the financial services affiliate of Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA).
Editor's Note: Ant Financial's investment in Hoperun follows on from a strategic partnership cemented between the two firms earlier this year (see Hoperun, Ant Financial Ally on Financial Technology Integration and Expansion, MD 1/29/18 issue.)
Keywords: Ant Cloud Financial Xu Xinmiao Wang Jie Internet Alibaba Group Hoperun 300339.SZ financial services BABA Ant Financial Group Yunxin Venture Capital M&A
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