trending Market Intelligence /marketintelligence/en/news-insights/trending/cS9mC9pdEO0_B9iXv0x5IQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

TuanChe acquires cloud software developer Longye

Strong adoption of AI/ML monitoring tools is driven by tech leaders

Amazon e-commerce sales soar amid COVID-19

European Energy Insights - October 2020

Banking Essentials - October 2020

TuanChe acquires cloud software developer Longye

China's TuanChe Ltd. closed the acquisition of cloud software developer Longye International Ltd. for 200 million Chinese yuan in the form of cash and company securities.

TuanChe credited its previous bridge loan of the U.S. dollar equivalent of 100 million yuan to the cash portion of the buying price. To cover the securities portion of the price, the Chinese automotive marketplace issued 8,366,444 class A ordinary shares to Longye's selling shareholders, with the price calculated by dividing a U.S. dollar equivalent of 100 million yuan by the average closing price of TuanChe's ordinary shares over a 30-day period until May 10.

As of the acquisition's completion, 20% of the class A shares had fully vested. Meanwhile, the rest are still subject to contractual restrictions to transfer, which will be lifted in 2021 and 2022.

TuanChe entered into an acquisition agreement with Longye in June 2019 in a bid to help improve the automotive marketplace's operations, product offerings and sales and marketing capabilities.

As of Jan. 10, US$1 was equivalent to 6.92 Chinese yuan.