DHC Software Co., Ltd. (SZSE:002065) agreed to acquire Cloud Vision Networks Technology Corporation from group of investors for approximately CNY 590 million in cash and stock on May 10, 2016. The group of investors include Shanghai Yicheng Technology Co., Ltd., Shanghai Fosun Capital Equity Partnership (LLP), Shanghai Yunjie Equity Investment Management Partnership Enterprise (Limited Partnership), Anhui Hexi Venture Capital Partnership Enterprise (Limited Partnership), Shanghai Beichen Wangsen Venture Capital Partnership Enterprise (Limited Partnership), Shanghai Yunti Equity Investment Management Partnership Enterprise (Limited Partnership), Shanghai Huijia Venture Capital Co., Ltd., Yang Jianxing, Tang Bin, and Lu Naijiang. In a related transaction, DHC Software agreed to acquire 70% stake in Unite Win for approximately CNY 410 million and agreed to acquire Jiangsu Qunli Times Science & Technology Development Co., Ltd for CNY 850 million. The transaction includes cash of CNY 260 million and remaining in stock. DHC Software plans to raise supporting funds of not more than CNY 858 million by private placement including participation from not more than 10 designated investors. Cloud Vision reported for year ending December 31, 2015, total assets of CNY 318 million, total liabilities of CNY 58.5 million, total equity of CNY 260 million, revenues of CNY 250 million, operating profit of CNY 5.64 million and net profit of CNY 11.74 million. Approval from shareholders of Cloud Vision was received on May 10, 2016. The transaction is still subject to another approval from DHC Software’s Board of Directors regarding the plan after completion of audit and assessment related work, approval from DHC Software’s shareholders, antitrust review and approval to implement concentration of undertakings from the Ministry of Commerce and approval from the Merger, Acquisition, and Reorganization Examination Committee of the China Securities Regulatory Commission and approval from China Securities Regulatory Commission. Huatai United Securities Co., Ltd. acted as financial advisor in the deal.