Cloopen To Acquire User-Centric Intelligent Data Solution Provider Zhuge

(RTTNews) - Cloopen Group Holding Limited (RAAS), a multi-capability cloud-based communications solution provider in China, said that it agreed to acquire the entire equity interests of Zhuge Inc., a user-centric intelligent data solution provider, for a mix of cash and shares consideration. The shares issued will account for less than 1% of the company's outstanding share capital on a fully-diluted basis.

The transaction is expected to be completed in December 2021, subject to customary closing conditions. There is no assurance that the transaction will be completed within the anticipated timeframe, or at all.