VANCOUVER, BRITISH COLUMBIA–(July 17, 2015) – ACT360 Solutions Ltd. (the “Company” or “ACT360 Solutions”), a global provider of Online Customer Acquisition software and services, announced that its wholly-owned special situation investment division Newport Concept Corporation (“Newport”) has signed a Memorandum of Understanding (the “MOU”) with Shanghai Shenhua Holdings Co., Ltd. (“Shenhua Holdings”), Shanghai Sailing Weidu Capital Management Co., Ltd. (“Sailing Weidu”), and ECS Engineering Consulting Services Co., Ltd. (“ECS”), (collectively “China Partners”).
Under the terms of the MOU, Newport and China Partners will jointly invest in digital media growth opportunities including acquisitions, joint ventures, and technology licensing. Newport’s role is to identify investment opportunities, conduct preliminary due diligence, manage transactions through to closing, co-invest and oversee the operations of portfolio companies outside of China.
According to Mr. Dickson Hall, Chairman of ACT360 Solutions, “Our partnership with the China Partners significantly expands the Company’s capabilities to execute its growth by acquisition strategy. The China Partners bring financial strength, capital markets expertise, and scaled operations in China that will benefit from technologies acquired via proposed transactions identified by Newport.”
China Partners, individually and collectively, are now making substantial investments in “Internet Plus” related businesses, including digital marketing, with the goal of growing these businesses in the domestic China market as well as internationally. While the MOU is only an expression of understanding and intent and not a binding agreement, Newport and the China Partners are working closely to ensure alignment of resources with the acquisition program.
Mr Tang Qi, Chief Executive Officer of Shenhua Holdings, commented, “We are very pleased to cooperate with experienced corporate development professionals and industry managers as represented by the Newport team. We have assembled a powerful platform to access international technologies and execute our Internet Plus growth strategy.”
About ACT360 Solutions Ltd.
ACT360 Solutions is a global provider of Online Customer Acquisition software and services. We acquire, manage, and build Online Customer Acquisition businesses that address the specific client acquisition needs of our customers in particular vertical markets.
About Shanghai Shenhua Holdings Co. Ltd.
Founded in 1986, Shenhua Holdings (Stock Symbol: 600653) is one of the original eight companies listed on the Shanghai Stock Exchange in 1990. Shenhua Holdings is primarily engaged in automobile manufacturing, distribution, retail and service, as well as real estate development, and wind farm development. 2014 turnover was RMB 6.3 billion. Current market capitalization is over RMB 9 billion.
About Shanghai Sailing Weidu Capital Management Co., Ltd.
Sailing Weidu is a fund management entity under Sailing Capital. Sailing Capital is an RMB international investment and loan fund created under the support of Shanghai Municipal Government and relevant national departments and in accordance with instruction provided by People’s Bank of China.
About ECS Engineering Consulting Services Co., Ltd.
ECS is a Shanghai-based international one-stop urban development service provider integrating urban design, architectural design, landscape design, urban planning, tourism planning and urban energy saving and environmental protection. ECS is listed on China’s new venture board (Stock Symbol 430420).