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JMU Acquires Asset Transaction Platform Products Developer Unicorn Investment
Wednesday 22 May 2019

22 May 2019 - Chinese B2B online e-commerce platform JMU Ltd. (NASDAQ: JMU), which provides integrated services to suppliers and customers in the foodservice industry in China, has acquired Unicorn Investment Ltd., the company said.

Pursuant to a share purchase agreement, purchased all the issued and outstanding shares of Unicorn from its shareholder for the consideration of 632,660,858 newly issued ordinary shares of JMU.

Unicorn is a developer of asset transaction platform products based on blockchain technologies. The former shareholder of Unicorn and the seller in the acquisition, Haohan Xu, is a principal shareholder of the company.

Xu held 25.7% of all the issued and outstanding shares of the company immediately prior to the closing of the acquisition, and will hold approximately 48.0% of all the issued and outstanding shares of the company immediately after the closing of the acquisition.

JMU said it is acquiring Unicorn to meet the emerging demands of blockchain technology-based transactions.
Date Published: 22/05/2019
Target: Unicorn Investment
Country: China
Deal Size: 961m (USD)
Sector: Wholesale/Retail
Type: Corporate acquisition
Financing: Stock
Status: Closed
Buyer: JMU Ltd