Ashurst represents Mobvista on the RMB1.5 billion acquisition of leading Chinese marketing technology firm Beijing Reyun Technology

Ashurst advised Mobvista Inc. ("Mobvista", HKEx: 1860) as the purchaser in the acquisition of the entire equity interest in Beijing Reyun Technology Co., Ltd. for an aggregate consideration of RMB1,500,000,005 (comprising cash consideration and certain consideration shares).

Beijing Reyun Technology is a big data service provider and is principally engaged in the business of providing advertising and user behaviour analysis platforms, game statistical analysis platforms, advertising effect monitoring platforms and other big data analysis platforms. 

Under the Sale & Purchase Agreements, Mobvista has conditionally agreed to acquire 47.88% equity interest in Beijing Reyun Technology at the consideration of approximately RMB718 million; as well as 52.12% equity interest in Beijing Reyun Technology at the consideration of approximately RMB781 million, comprising RMB234 million Cash Consideration, the allotment and issuance of 67,890,010 Consideration Shares at the price of HK$9.63 per share and the allotment and issuance of the maximum number of 47,523,012 Bonus Shares. The number of Consideration Shares represents approximately 4.23% of the existing issued share capital of the issuer as at the date of announcement and approximately 4.05% of the issued share capital as enlarged by the allotment and the completion of the Sale & Purchase Agreements. The maximum number of the Bonus Shares represents approximately 2.96% of the existing issued share capital of the issuer as at the date of announcement and approximately 2.76% of the issued share capital as enlarged by the allotment of the maximum number of Bonus Shares and the Consideration Shares. 

Upon completion, Beijing Reyun Technology will become an indirect wholly-owned subsidiary of Mobvista. The transaction is the first major inbound acquisition by Mobvista since its establishment and it is a major step for Mobvista to further expand its SaaS platform into the PRC.

Mobvista is a leading technology platform primarily engaged in mobile marketing, data analytics, creative automation, monetization, and elastic cloud cost optimization. Ashurst advised on Mobvista's HK$1.28 billion listing on the Hong Kong Stock Exchange in 2018, the issuance of its inaugural convertible bonds earlier this year and most recently, HK$425 share placement to Singapore sovereign wealth fund GIC. 

Lead partner Frank Bi commented: "We have been continuously working for Mobvista since its listing and recently completed its strategic placings with PAG and GIC. This transaction has also demonstrated our expertise in complex acquisition deals in digital economy industry."

The Ashurst team was led by Frank Bi, supported by Albert Li, Christy Li and Joyce Ma.