CLPS Incorporation Further Expands Into Southeast Asia Market With Acquisition of RiDik
SHANGHAI, Sept. 27, 2019 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), a leading information technology consulting and solutions service provider focusing on the banking, insurance, and financial sectors in China and globally, today announced that, through its subsidiary Qiner Co., Limited ("Qiner"), it has acquired 80% of the equity of RiDik Pte. Ltd. ("RiDik"), a Singapore-based IT services company.
Incorporated in 2010, RiDik provides professional IT services and solutions to various target market segments, from startups to large enterprises in Singapore and Malaysia. It serves clients across multiple industries, including telecommunications, finance, energy, and engineering. RiDik also explores cutting-edge technologies and undertakes client projects in the areas of mobile application, robotic process automation (RPA), business intelligence (BI), and business analytics.
Mr. Raymond Lin, Co-Founder and Chief Executive Officer of CLPS, commented, "We are excited to welcome RiDik into the CLPS family, our second international acquisition following InfoGain. The potential and dynamic we see in RiDik enable us to further expand our market share and brand influence in the Southeast Asia region and to provide extensive IT solution implementations to a broad array of potential client and application scenarios. In addition, our globalization strategy helps us to attract more international talent to boost our talent development program and, in the process, produce more professionals that can ably compete in the global stage."
Mr. Srustijeet Mishra, Founder of RiDik, said, "Using CLPS's extensive experience in setting up offshore delivery centers (ODC), its acquisition of RiDik will fast track our expansion plan by establishing the same in Bhubaneswar, India, thus creating an efficient synergy in the IT consulting field."
About CLPS Incorporation
Headquartered in Shanghai, China, CLPS Incorporation (the "Company") (Nasdaq: CLPS) is a global leading information technology ("IT"), consulting and solutions service provider focusing on the banking, insurance and financial sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, Europe, Australia and Hong Kong SAR and their PRC-based IT centers. The Company maintains ten delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Chengdu, Guangzhou and Shenzhen. The remaining three global centers are located in Hong Kong SAR, Singapore and Australia. For further information regarding the Company, please visit: http://ir.clpsglobal.com/.
Forward-Looking Statements
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance. Known and unknown risks, uncertainties and other factors, which may be beyond the Company's control, may cause the actual results and performance of the Company to be materially different from such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company's expectations of the Company's future growth, performance and results of operations, the Company's ability to capitalize on various commercial, M&A, technology and other related opportunities and initiatives, as well as the risks and uncertainties described in the Company's most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
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