Guangdong Nanyang Cable Group Holding Co.,Ltd. acqired Beijing Topsec Network Security Technology Co. Ltd. for CNY 7.1 billion.
January 02, 2017
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Guangdong Nanyang Cable Group Holding Co.,Ltd. (SZSE:002212) agreed to acquire Beijing Topsec Network Security Technology Co. Ltd. for CNY 7.1 billion on August 2, 2016. The consideration includes CNY 2.1 billion in cash and CNY 3.6 billion in common stock. The deal will be financed through private placement of CNY 2.1 billion. For the year ended December 31, 2015, Beijing Topsec Network Security Technology Co. Ltd. reported total assets of CNY 1.1 billion, revenues of CNY 855.1 million, EBIT of CNY 148.4 million, net income of CNY 229.5 million and net assets of CNY 689.4 million. On August 2, 2016, the board of Guangdong Nanyang Cable Group Holding Co.,Ltd. approved the deal. On July 21, 2016, the management of Huarong Securities Co., Ltd. approved the deal. On July 29, 2016, the shareholders of Bairong Mingtai Capital Investment Co., Ltd. approved the deal. On July 29, 2016, the partners of Shannan Hua’an Xinli Consulting Management Partnership Enterprise (Limited Partnership), Shannan Tianwang Xinhe Consulting Management Partnership Enterprise (Limited Partnership), Shannan Rong’an Xinhe Consulting Management Partnership Enterprise (Limited Partnership), Shannan Rongcheng Service Consulting Management Partnership Enterprise (Limited Partnership) approved the deal. On August 2, 2016, the board of Beijing Topsec Network Security Technology Co. Ltd. approved the deal. This transaction still needs to be approved by CSRC, shareholders of Guangdong Nanyang Cable Group Holding Co.,Ltd. and Beijing Topsec Network Security Technology Co. Ltd. As on December 19, 2016 CSRC approved Guangdong Nanyang Cable GroupHolding Co.,Ltd acquisition of Beijing Topsec Network Security Technology Co. Ltd. King & Wood Mallesons, China acted as legal advisor, Moore Stephens Da Hua and GP Certified Public Accountants Co Ltd acted as accountants for Guangdong Nanyang Cable Group Holding Co.,Ltd.
Guangdong Nanyang Cable Group Holding Co.,Ltd. (SZSE:002212) completed acquisition of Beijing Topsec Network Security Technology Co. Ltd. on January 3, 2017.
Topsec Technologies Group Inc is a China-based company mainly engaged in cyber security business. The Company operates three segments. Wire and Cable segment is mainly engaged in the research and development, production and sales of wires and cables for power cables and electrical equipment. Network Security segment mainly provides network security products, big data products and cloud services to customers in various industries such as government, finance, operators, energy, health, education, transportation, and manufacturing. Others segment is engaged in other businesses. The Company's main products include security applications such as border security and cloud security, big data products such as situational awareness, cloud service products such as cloud computing, and the Next Generation Trusted Network Architecture (NGTNA). The Company's products and services are mainly used in the fields such as networking, industrial Internet, Internet of Things and others.
TOPSEC TECHNOLOGIES GROUP INC. 
