Acquity Group Limited Corporate Updates
CHICAGO, March 7, 2013 /PRNewswire/ -- Acquity Group Limited ("Acquity" or the "Company") (NYSE MKT: AQ), a leading global Brand eCommerce™ and digital marketing company, announced that, as indicated in the previous quarterly announcement, it has been exploring strategic options relating to the joint ventures. Since the Company's initial public offering in April 2012, Acquity has not made further investments into the joint ventures. As of February 18, 2013, shareholders of Digital Li-Ning Company Limited entered into an agreement to terminate the joint venture. The Huaren Kudong joint venture has been a passive investment in which the Company did not have management involvement since inception. Acquity has taken steps to explore the delegation of divestment rights to management, with the Company retaining a right to the proceeds.
Separately, the Company has received non-binding indications of interest relating to possible strategic transactions and the board of directors has retained professional advisors to evaluate such indications. There can be no assurance that such non-binding indications will result in any specific action or transaction. The Company does not intend to comment further unless a definitive agreement for a specific transaction is entered into, the process is concluded, or it otherwise deems further disclosure is appropriate or required.
About Acquity Group Limited
Acquity Group Limited is a leading Brand eCommerce™ and digital marketing company that leverages the internet, mobile devices and social media to enhance its clients' brands and e-commerce performance. It is the digital agency of record for a number of well-known global brands in multiple industries. Acquity Group Limited has served more than 600 companies and their global brands through thirteen offices in North America. For more information about Acquity Group Limited, visit www.acquitygroup.com.
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Investor Relations Contacts:
Jessica Barist Cohen
Ogilvy Financial, New York
SOURCE Acquity Group LLC