Cloopen To Acquire Zhuge, a User-Centric Intelligent Data Solution Provider

Cloopen Group Holding Limited, a leading multi-capability cloud-based communications solution provider in China, today announced that it has entered into a definitive agreement to acquire the entire equity interests of Zhuge Inc. (“Zhuge”), a user-centric intelligent data solution provider, for a mix of cash and shares consideration. The shares issued will account for less than 1% of the Company’s outstanding share capital on a fully-diluted basis. The shares will be issued under a private placement pursuant to an exemption or exclusion from the registration requirements under the Securities Act of 1933, as amended.

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The transaction is expected to be completed in December 2021, subject to customary closing conditions. There is no assurance that the transaction will be completed within the anticipated timeframe, or at all. Shareholders are cautioned not to place undue reliance on this announcement.

Mr. Changxun Sun, the Company’s Founder, Chairman of Board of Directors and Chief Executive Officer, commented, “We are thrilled to welcome Zhuge to our group. Over the past six years, Zhuge has dedicated itself to assisting clients in achieving data-driven growth, echoing our commitment to drive the digital transformation of our enterprise customers. To that end, Zhuge has continuously upgraded and innovated its products with a view to support more use cases. We expect the integration of Zhuge to strengthen our data capability and reinforce our competitive edge in intelligent enterprise marketing and customer service solutions. Going forward, together with Zhuge, we will offer a more comprehensive and synergistic product portfolio leveraging our respective expertise in enterprise communications and data intelligence.”

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Mr. Miao Kong, the Founder and Chief Executive Officer of Zhuge, commented, “As one of the first user-centric behavior analysis platforms in China, we have accumulated extensive knowledge in behavioral analytics and customer data management. Enterprises in China have undergone digital transformation with an increasing focus on improving the customer experience and operational efficiency by applying data-driven insights. Together with Cloopen, we believe that we will be able to capitalize on this industry trend and provide enterprises with more advanced intelligent data products and services.”