Shenzhen Tianyuan DIC Information Technology Co., Ltd. (SZSE:300047) entered into a framework agreement to acquire a 83.8% stake in Vive&Best Technology Co.,Ltd. on October 27, 2016. The consideration will be paid through issuance of shares and cash payment. On January 6, 2017, Shenzhen Tianyuan DIC Information Technology Co., Ltd. agreed to acquire 94.94% stake in Vive&Best Technology Co.,Ltd. from a consortium of sellers. Under the terms, Shenzhen Tianyuan DIC Information Technology Co., Ltd. will acquire 126.66 million shares from 101 sellers and pay CNY 70.4 million in cash and issue 42.62 million shares as the consideration. To fund the acquisition, Shenzhen Tianyuan DIC Information Technology Co., Ltd. plans to issue not more than 6.9 million shares to raise no more than CNY 137 million via a private placement. As of March 23, 2017, the transaction terms were amended. Under the new terms, Shenzhen Tianyuan DIC Information Technology Co., Ltd. will acquire 94.84% stake in Vive&Best Technology Co.,Ltd. for approximately CNY 730 million. Shenzhen Tianyuan DIC Information Technology Co., Ltd will issue 42 million shares and pay cash of CNY 81.6 million. Simultaneously, Shenzhen Tianyuan DIC Information Technology Co., Ltd. cancelled the plan of raising of supporting funds. As of April 17, 2017, the terms of the deal were amended. Under the new terms, Shenzhen Tianyuan DIC Information Technology will acquire 94.84% stake in Vive&Best Technology Co.,Ltd. for approximately CNY 800 million. Shenzhen Tianyuan DIC Information Technology Co., Ltd will issue 41.9 million shares and will pay cash of CNY 81.6 million. The amendment was approved by the board of directors of Shenzhen Tianyuan DIC Information Technology Co., Ltd. The amendment doesn not need shareholders' approval. For the year ending December 31, 2015, Vive&Best Technology Co.,Ltd. had total assets of CNY 243.41 million, shareholders' equity of CNY 191.87 million, operating revenue of CNY 140.24 million and net profit of CNY 28.02 million. The transaction is subject to approval of the shareholders of Shenzhen Tianyuan DIC Information Technology Co., Ltd. and Vive&Best Technology Co.,Ltd, approval of the Merger, Acquisition and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission, approval of the China Securities Regulatory Commission and the delisting of the shares of Vive&Best Technology Co.,Ltd needs to be approved by National Equities Exchange and Quotations. The transaction was approved by the Board of Shenzhen Tianyuan DIC Information Technology Co., Ltd and Vive&Best Technology Co.,Ltd on December 13, 2016. The transaction was approved by the shareholders of Shenzhen Tianyuan DIC Information Technology Co., Ltd. on February 6, 2017. CSRC approved the transaction on June 30, 2017. China Merchants Securities Co.,Ltd (SHSE:600999) acted as a financial advisor and Cao Xinyi and Lou Longfei of Grandall Law Firm acted as a legal advisor to Shenzhen Tianyuan DIC Information Technology Co., Ltd. As per the notice of change in signing lawyer, Wu Jianshe will replace Lou Longfei. Cao Xinyi and Wu Jianshe of Grandall Law Firm will act as the legal advisor for Shenzhen Tianyuan DIC Information Technology Co., Ltd. Shenzhen Tianyuan DIC Information Technology Co., Ltd. (SZSE:300047) completed the acquisition of 94.84% stake Vive&Best Technology Co.,Ltd. from a consortium of sellers on September 19, 2017.