On January 16, AsiaInfo Security and AsiaInfo Technology, two listed companies, released an announcement about asset restructuring, bringing a major piece of news: through this transaction, AsiaInfo Security (688225.SH) acquires a controlling stake of 28.8% in AsiaInfo Technology (01675.HK).
Established on July 15, 2003, AsiaInfo Technology went public on the Hong Kong Stock Exchange on December 19, 2018, with the stock code "1675." As of the close on January 17, the company's market value is approximately HKD 7.2 billion. AsiaInfo Technology is a leading provider of software products, solutions, and services in China. It is the largest telecom software product and related service provider in China, as well as the largest BSS (Business Support System) software product and related service provider in the Chinese telecom industry.
As a leader in China's network security software field, AsiaInfo Security is a "knows the network, knows the cloud" cybersecurity company. From network construction to network protection, AsiaInfo Security inherits 30 years of internet construction experience, bearing the mission of guarding the internet. With six core technological advantages in cloud security, identity security, endpoint security, security management, APT governance, and 5G security, it covers service networks in 31 provinces and cities nationwide, becoming a crucial force in building China's network security.
After the acquisition, both companies will remain unchanged in terms of business operations, governance structure, product business, and listing status. They will jointly embrace the era of "data-driven, AI-native" with a shared philosophy.
Tian Suning, Co-founder of AsiaInfo, expressed in an internal letter, "This is another crucial moment in the development of both companies! After the consolidation of financial statements, AsiaInfo Security will become one of China's largest software enterprises with revenue exceeding CNY 10 billion and nearly 15,000 employees."