Recently, Seamless Green announced that it has completed the acquisition of 20% of the issued share capital of Zhongke Asia for US$26 million.
Pursuant to the Agreement, the Consideration will be fully paid by Seamless Green China to the Vendor for the issue of 20 million shares and a consideration of RMB 1.3 per share. After the transaction, the Vendor will hold approximately 3.47% of the issued share capital of Seamless Green China.
The main business of Zhongke is to provide network security services. In order to speed up the transaction processing speed and capability of POS (point of sale) terminals and help retailers save costs, China UnionPay has begun to change all existing POS terminals from dial-up telephone lines to protected. Network connection. Zhongke will provide network security services for these upgraded POS terminals in China and charge a monthly service fee.
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