Jianpu Technology Inc. agreed to acquire a 65% stake in a China-based company specializing in data-driven risk management.
It will pay 110 million yuan in cash as well as a non-cash portion representing about 1.5% of the target company's issued and outstanding share capital, Jianpu Technology said in a March 5 statement.
The unnamed company analyzes data sources via machine learning and AI technology to help financial service providers improve their risk management systems.
The transaction is expected to close in the second quarter of 2018, subject to customary closing conditions.
As of March 5, US$1 was equivalent 6.35 Chinese yuan.
