Cloopen has announced that it will acquire all the equity interests of EliteCRM.
The cloud-based communications solution provider from China has agreed to offer equity awards in the form of restricted shares to certain management members of EliteCRM.
Cloopen founder Changxun Sun said: “The enterprise communications industry is undergoing transformation. The integration of AI and cloud computing as well as industrial digitalisation has brought significant growth opportunities for us.
“EliteCRM is a leading contact centre and customer relationship management software provider in China with solid industry experience and strong technological capabilities. The acquisition can complement our business portfolio by strengthening the application layer of our cloud communications infrastructure.
“We believe this acquisition will enable us to offer integrated cloud-based contact centre solutions with more competitive functions as we step up our efforts in driving the digital transformation and integration in enterprise management. We are thrilled to welcome EliteCRM to our group.”
Shuangchun Mou, EliteCRM founder added: “We in-house developed EliteTools, a ‘low-code’ development platform, leveraging it to design, build and customise contact centre and customer relationship management systems that caters to the diverse needs of enterprises from a broad range of industries.
“Together with Cloopen, we believe that we will be able to provide enterprises with integrated cloud-based customer service and acquisition solutions and enable them to improve operational productivity in an effectively manner.”
Shares will be issued under a private placement under the Securities Act of 1933.
They will be subject to a vesting schedule of two years and forfeiture to the extent any share remains unvested in case of early termination of employment.
The transaction will be completed this month.
