HONG
KONG, June 13, 2024 /PRNewswire/ -- CLPS
Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS) today
announced that, through its wholly-owned subsidiary, Ridik Pte.
Ltd. ("Ridik"), it has acquired 100% of the equity of Shell
Infotech Pte. Ltd. and its wholly-owned subsidiary Shell Infotech
Consulting Sdn. Bhd. (collectively, "Shell Infotech"). This
acquisition expands CLPS's client base and market share in
Southeast Asia while strengthening
its core IT competencies and service offerings, solidifying its
commitment to global expansion.
Established in 2003 and headquartered in Singapore, Shell Infotech is a leading IT
consulting and managed services provider. Over the years, Shell
Infotech has built a strong reputation for its deep industry
expertise and professional service team, delivering
industry-leading services to clients in Singapore and Malaysia. It offers a wide range of IT
services, including software development, SAP solutions, enterprise
applications, and managed services, with a focus on the banking and
insurance sectors.
Following the acquisition, Shell Infotech's workforce will be
seamlessly integrated into CLPS's organizational structure, with
its employees relocating to Ridik's office in Singapore. CLPS will maintain the Shell
Infotech brand to serve its clients, leveraging the combined
technical prowess, management expertise, and client resources of
both companies. This strategic approach aims to solidify CLPS's
brand recognition, enhance market competitiveness in Southeast Asia, and ultimately enable the
delivery of innovative and efficient IT services and solutions to
its clients. The acquisition of Shell Infotech is expected to bring
27 new clients to the Company and drive a projected 25% to 30%
revenue increase in Southeast
Asia.
Mr. Srustijeet Mishra, Chief Executive Officer of CLPS SEA &
USA, said, "The successful
acquisition of Shell Infotech is a significant achievement for
CLPS. It further expands our reach across Southeast Asia and brings valuable assets like
reputable clients, a wealth of technical resources, and a team with
deep industry knowledge. This strongly supports our growth plans
for the Asia-Pacific region, as we
expand our operations from Singapore to Malaysia, the
Philippines, Japan,
India, Vietnam, and Australia."
Mr. Henry Li, Chief Operating
Officer of CLPS, commented, "We are thrilled to welcome Shell
Infotech to the CLPS family. This marks a major leap forward in
growing our international presence. We are actively pursuing
international M&As that cohesively complement our business
model, and Shell Infotech perfectly exemplifies this approach. This
move strengthens our position in the IT services landscape and
unlocks exciting opportunities for business growth."
About CLPS Incorporation
Headquartered in Hong Kong,
CLPS Incorporation is a global leading information technology
("IT") consulting and solutions service provider focused on
delivering services primarily to global institutions on the
banking, wealth management, e-commerce, and automotive sectors. The
Company serves as an IT service provider to a growing network of
clients in the global financial service industry, including large
financial institutions in the U.S., Europe, Australia, Asia, and their PRC-based IT centers. The
Company maintains 20 delivery and/or research & development
centers to serve different customers in various geographic
locations. Mainland China centers
are located in Shanghai,
Beijing, Dalian, Tianjin, Xi'an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining 10 global centers are
located in Hong Kong SAR, USA,
Japan, Singapore, Australia, Malaysia, India, Philippines, Vietnam, and Canada. For further information regarding the
Company, please
visit: https://ir.clpsglobal.com/, or follow CLPS
on Facebook, Instagram, LinkedIn,
X (formerly Twitter), and YouTube.
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.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
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SOURCE CLPS