Morgan Stanley recently released a research report, pointing out that Weimob Group's recent acquisition of 52% of the equity of Xiangxin Cloud for .22 billion will bring a positive attitude, and the product capabilities and customer profiles of Xiangxin Cloud Super Shopping Guide will bring good synergies to the long-term development of Weimob Group, maintaining Weimob Group's "buy" rating.
On November 9, Weimob announced that it will acquire 51.9% of xiangxin cloud shares for a total consideration of 222 million yuan, and after the completion of the transaction, xiangxin cloud will become a subsidiary of Weimob Group and be included in the listed company system, and xiangxin cloud founders and shareholding platforms and Tencent Industry Fund will hold 30.7% and 17.4% of the shares respectively.
Morgan Stanley said that the acquisition will help Weimob expand the KA (large customer) customer base, Xiangxin Cloud's customers are mainly large and medium-sized merchants, has served more than 200 retail segments of the head customers, the cumulative coverage of 240,000 stores and more than 2 million store staff users, these cooperation will create cross-sales opportunities for Weimob, which is consistent with Weimob's core strategy of large customization.
Morgan Stanley believes that centripetal cloud's products and services take enterprise traffic operation and transformation as the core, take the digitalization of shopping guide as the contact point, provide private domain operation consulting services, ecological cooperation resource support, and underlying technical support and data empowerment, which is precisely the effective mutual promotion effect with the TSO strategy of Weimob, and after the transaction is completed, Weimob's competitive advantage in the field of smart retail and TSO will be further enhanced.
Morganstein said that the joint investment of Weimob and Tencent in Centripetal Cloud will help Weimob deepen cooperation in its ecosystem. Weimob and Centripetal Cloud's products are well integrated with Tencent's products, and Weimob Group's current valuation is attractive, so Weimob Group's "buy" rating is maintained.
This article originated from the Financial Circle Network
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