JD.com To Invest About $170 Mln In Kingdee - Quick Facts

(RTTNews) - Kingdee International Software Group Company Limited and JD.com Inc. (JD), the largest online direct sales company in China, announced that they have entered into a definitive agreement, under which JD.com will invest HK$1.3 billion or about US$170 million in cash in consideration for an about 10% stake in Kingdee.

In addition, Kingdee and JD.com plan to enter a strategic partnership under which they will collaborate on providing small and medium-sized enterprises with integrated ERP solutions through a cloud service.

The purchase price will be HK$4.60 per share, representing the average closing price of Kingdee's shares for the 15 trading days prior to the signing of the agreement.

The transaction is expected to close in the second quarter of 2015, subject to customary approvals and closing conditions.