Tencent technology news, on June 12, e-Car released a notice, the board of directors of the company unanimously approved and formally signed a legally binding merger agreement with Tencent holdings and the buyer group composed of hammer capital. The buyer's group will pay $16 per ads cash price to buy the car changing stock, with a total transaction value of $1.1 billion. This transaction will use the buyer group's own funds and equity to turn up, not involving debt financing.
On September 13, 2019, e-Car received the non binding privatization offer from the buyer's group, and after nine months of due diligence and negotiation, it finally reached the aforesaid merger agreement. After the final completion of the transaction, e-Car will be delisted from NYSE.
Founded in 2000, e-Car is one of the earliest auto Internet enterprises in China. In 2010, e-Car landed on the NYSE. It is the first auto Internet enterprise listed overseas in China and the first auto Internet enterprise with a revenue of more than 10 billion yuan. Past 20 In, e-Car provided manufacturers and dealers with sales management software, Internet marketing and intelligent marketing services through business sectors such as advertising and membership, trading services, and digital marketing services; provided consumers with professional, rich and convenient automobile content, quotation inquiry, and post market services, etc., becoming the witness and push for the development and expansion of China's automobile industry and Internet industry Movers, beneficiaries.
Since 2018, from content to technology, from product to brand, e-Car has continued to iterate and rejuvenate, and finally achieved a significant increase in user scale and sales leads. According to the research data of quest mobile, in April this year, the dau of the e-Car app and the total dau of the e-Car app and the auto quotation Daquan app increased by 259% and 46% respectively compared with the time when the e-Car app was revised in 2018. At the same time, the proportion of high-quality original clues has reached 73%. These achievements are increasingly recognized by car companies and dealers.
In 2015, Tencent became a strategic shareholder of e-Car, and since then, the two sides have maintained close cooperation. After the privatization transaction, e-Car will be more closely connected with Tencent's ecology, further improve the industrial service ability and platform business value of e-Car, help the automobile industry to improve the digital and intelligent level of the whole link, realize cost reduction, efficiency improvement and sustainable development, and create greater value for the development of China's automobile industry.