Yonyou Network Technology Co., Ltd. agreed to acquire 9.5% stake in Sobot Technologies Inc. from IDG China Venture Capital Fund IV L.P., a fund managed by IDG Capital Partners, Idg China Iv Investors L.P. and CGC Appetizing Limited for CNY 52.5 million.
April 29, 2020
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Yonyou Network Technology Co., Ltd. (SHSE:600588) agreed to acquire 9.5% stake in Sobot Technologies Inc. from IDG China Venture Capital Fund IV L.P., a fund managed by IDG Capital Partners, Idg China Iv Investors L.P. and CGC Appetizing Limited for CNY 52.5 million on April 30, 2020. In related transaction, Yonyou Network Technology Co., Ltd. will subscribe to 15.01% stake in Sobot Technologies Inc. Sobot Technologies Inc. reported revenue of CNY 59.1 million, total assets of CNY 50.3 million, net loss of CNY 38.7 million and net assets of CNY 31.1 million as of December 31, 2019. The transaction has been approved by the Board of Yonyou Network Technology Co., Ltd.
Yonyou Network Technology Co., Ltd. is specialized in the development and manufacturing of management software products. These products are used for enterprise resource planning, human resource management, office automation, customer relationship management, product lifecycle management, etc. Net sales break down by activity as follows:
- services (69.1%): maintenance, technical support, consulting, and training services;
- sale of licenses (29.6%);
- other (1.3%).
China accounts for 98.4% of net sales.
Yonyou Network Technology Co., Ltd. agreed to acquire 9.5% stake in Sobot Technologies Inc. from IDG China Venture Capital Fund IV L.P., a fund managed by IDG Capital Partners, Idg China Iv Investors L.P. and CGC Appetizing Limited for CNY 52.5 million.
YONYOU NETWORK TECHNOLOGY CO.,LTD. 
