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iClick Interactive Asia Group Limited Announces Disposal of Its Mainland China Enterprise Solutions Business
iClick Interactive Asia Group (NASDAQ: ICLK) has announced the disposal of its mainland China enterprise solutions business. The company's subsidiary, Optimix Media Asia , will sell its entire equity stake in Tetris Media to BeihaiOne for US$80,000. This strategic move aims to optimize operations, enhance profitability, and realign business focus in response to market trends and demand in the SaaS sector.
The decision comes amid uncertain macroeconomic conditions and intense competition in the mainland China SaaS market, which have led to reduced segment margins and operating cash flows. iClick will continue to operate its enterprise solutions business in Hong Kong and its marketing solutions business in mainland China, Hong Kong, and overseas. The company expects this move to drive greater operational efficiency and enhance its financial performance.
The decision comes amid uncertain macroeconomic conditions and intense competition in the mainland China SaaS market, which have led to reduced segment margins and operating cash flows. iClick will continue to operate its enterprise solutions business in Hong Kong and its marketing solutions business in mainland China, Hong Kong, and overseas. The company expects this move to drive greater operational efficiency and enhance its financial performance.
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