BEIJING: Chinese online shopping site JD.com will pay US$171 million for 10 percent of Hong Kong-listed Kingdee International Software Group.
The deal will also spur Kingdee and JD.com to form a strategic partnership to collaborate on providing small and medium-sized firms with enterprise integrated resources planning solutions through a cloud-computing service.
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“Collaboration with JD.com will further boost our enterprise solution capability by integrating JD.com’s e-commerce and logistics vertical solutions,” Xu Shaochun, Kingdee chairman and CEO, said in a statement.
JD.com is paying HK$4.60 (59 US cents) a share for the 10 percent stake in Kingdee, representing the average closing price of Kingdee’s shares for the 15 trading days prior to the agreement.
The deal is set to close in the second quarter of this year.
The investment comes only weeks after JD.com said it would subscribe to US$350 million worth of newly issued shares of Nasdaq-listed online travel site Tuniu.com to boost revenue outside of its core e-commerce business.
