Hong Kong, June 13, 2024/PRNewswire/-- CLPS Incorporation (Nasdaq:CLPS) ('CLPS' or 'the Company'), today announced it has completed the acquisition of 100% equity interest in Shell Infotech Pte.Ltd. and its wholly-owned subsidiary, Shell Infotech Consulting Sdn.Bhd.(collectively 'Shell Infotech') through the Company's wholly-owned subsidiary, Ridik Pte.Ltd.( 'Ridik').This acquisition not only expands CLPS's customer base and market share in Southeast Asia, strengthens its technical capacity and service capabilities, but also demonstrates its determination to implement a global expansion strategy.
Established in 2003, Shell Infotech is a leading information technology ('IT') consulting and management services provider based in Singapore. Over the years, it has provided quality services to its customers in Singapore and Malaysia in IT software services, SAP services, enterprise applications, IT management services and has a solid customer base particularly in the banking and insurance industries.
After the completion of the acquisition, the Shell Infotech team will be integrated into CLPS's existing organizational structure, and its employees will move to Ridik's office in Singapore. The Company will continue to use the Shell Infotech brand to provide services to its customers. In the future, CLPS will further enhance its brand effect and market competitiveness in Southeast Asia by integrating the technological advantages, management experience, and customer resources of both sides to create more innovative and efficient IT services and solutions for customers. This acquisition will add 27 new customers to the Group and bring about 25% - 30% of business growth to Southeast Asia.
Mr. Srustijeet Mishra, CEO of CLPS USA and Southeast Asia, said: 'The successful acquisition of Shell Infotech not only expands our business scale in Southeast Asia but also brings us high-quality customers, rich technological resources, and professional knowledge. As our business expands from Singapore to Malaysia, the Philippines, Japan, India, Vietnam and Australia, this acquisition is consistent with our growth strategy in the Asia-Pacific region.'
Mr. Lee Li, CLPS's Chief Operating Officer, said: 'We are delighted to welcome Shell Infotech to the CLPS family, marking an important step in expanding our international business. We are actively promoting international mergers and acquisitions plans to explore target companies similar or complementary to our business model on a global scale, and Shell Infotech perfectly matches this strategy. This acquisition enhances CLPS's market competitiveness in the IT services sector, further unleashing the potential for business growth.'
CLPS Incorporation is a leading IT consulting and solutions service provider focusing on the banking, insurance, and financial sectors. It has been serving global financial institutions with constantly growing customer base in the United States, Europe, Australia, Hong Kong of China, Southeast Asia, and their IT development centers in China. It currently has a total of 20 delivery and R&D centers to serve customers in different regions. CLPS's delivery and R&D centers in mainland China are located in Shanghai, Beijing, Dalian, Tianjin, Xi'an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The other ten international delivery and R&D centers are located in Hong Kong, the United States, Japan, Singapore, Malaysia, Australia, India, the Philippines, Vietnam, and Canada. For more information, please visit: , or follow the official account of CLPS.
CLPS Incorporation is a leading IT consulting and solutions service provider focusing on the banking, insurance, and financial sectors. It has been serving global financial institutions with constantly growing customer base in the United States, Europe, Australia, Hong Kong of China, Southeast Asia, and their IT development centers in China. It currently has a total of 20 delivery and R&D centers to serve customers in different regions. CLPS's delivery and R&D centers in mainland China are located in Shanghai, Beijing, Dalian, Tianjin, Xi'an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The other ten international delivery and R&D centers are located in Hong Kong, the United States, Japan, Singapore, Malaysia, Australia, India, the Philippines, Vietnam, and Canada. For more information, please visit: , or follow the official account of CLPS.Rhon GalichaFacebook, InstagramFacebookLinkedIn, X (formerly Twitter),Follow us on Instagram, LinkedIn, Twitter, Koo, and YouTube for the latest updates. For more information, please visit https://www.iith.ac.in/..
Forward-looking statements
Some statements in this press release are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual performance, achievements or financial position to be materially different from any future performance, achievements or financial position expressed or implied by these forward-looking statements. All such statements are subject to certain risks and uncertainties and are made only as of the date of this release. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com