Edition:
India

SES Imagotag, BOE And JD Digits Join Forces In China


Friday, 17 May 2019 

May 17 (Reuters) - SES IMAGOTAG SA ::SES-IMAGOTAG, BOE AND JD DIGITS JOIN FORCES IN CHINA.THREE PARTNERS WILL FORM A JOINT VENTURE TO DEVELOP AND MARKET RETAIL IOT SOLUTIONS.ONCE DEFINITIVE INVESTMENT PROTOCOL IS SIGNED SES-IMAGOTAG WILL HOLD A 51% STAKE IN ENTITY, WITH A 15% SHARE FOR BOE AND A 34% SHARE FOR JD DIGITS.TOTAL INVESTMENT WILL BE APPROXIMATELY US $30 MILLION IN CAPITAL OVER SEVERAL YEARS.COMPLETION OF THIS TRANSACTION, WHICH IS SUBJECT TO REGULATORY CLEARANCES, IS ANTICIPATED BY END OF H1 2019.GROUP WILL THEREFORE HAVE CONTROL OF JOINT VENTURE AND ITS RESULTS WILL BE CONSOLIDATED IN SES-IMAGOTAG'S FINANCIAL STATEMENTS.JV IS KEY MILESTONE TOWARDS ACHIEVING GROUP'S STRATEGIC PLAN VUSION 2022 THAT TARGETS 50% OF SALES FROM OUTSIDE EUROPE BY 2022. 

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18 Jul 2019