Ashurst advised Chinese tech platform Mobvista in its acquisition of big data provider Beijing Reyun Technology for RMB1.5 billion (USD232 million) in a cash and stock transaction.
Upon completion, Reyun will become an indirect wholly owned subsidiary of Mobvista. The transaction is the first major inbound acquisition by Mobvista since its establishment in 2013, and a major step to expand its software as a service (SaaS) platform.
Mobvista is a leading technology platform primarily engaged in mobile marketing, data analytics, creative automation, monetisation, and elastic cloud cost optimisation. Reyun is principally engaged in big data analysis platforms, including advertising and user behaviour, game statistics, advertising effect monitoring, etc.
Corporate partner Frank Bi led the Hong Kong-based team, with the support of corporate partner Albert Li, and associates Christy Li and Joyce Ma.
“We have been continuously working for Mobvista since its listing, and recently completed its strategic placings with PAG [a global alternative investment firm] and GIC [a Singapore sovereign wealth fund],” said Bi.
Previously, Ashurst advised on Mobvista’s HKD1.28 billion (USD164 million) listing on the Stock Exchange of Hong Kong in 2018, the issuance of its inaugural convertible bonds earlier this year and, most recently, a HKD425 million share placement to GIC.