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CLPS Incorporation Acquires 35% Ownership in SSIT to Expand into the B2C Market
Monday 25 January 2021

Hong Kong-based information technology provider CLPS Incorporation (NASDAQ: CLPS) has acquired a 35% ownership stake in e-commerce services provider Shanghai Shier Information Technology Co., Ltd. (SSIT), through its wholly owned subsidiary, ChinaLink Professional Services Co. Ltd., to diversify business model and expand into the B2C market, the company said.

Terms of the transaction were not disclosed.

CLPS partnership with SSIT now paves the way to penetrate the business-to-consumer through enterprise employee data outreach.

In addition, CLPS and SSIT have agreed to integrate more financial products and services into the Group Store as part of an enterprise's development strategy, leveraging the company's expertise in the financial industry.

CLPS Incorporation is an information technology, consulting and solutions service provider focusing on the banking, insurance and financial sectors.

The company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong, and their PRC-based IT centres.

SSIT develops and offers e-commerce platform products integrated with rebate programme as its main and unique feature.
Date Published: 25/01/2021