IFBD - Infobird enters into equity transfer agreement with Shanghai Qishuo

Infobird (NASDAQ:IFBD) has entered into an equity transfer agreement to acquire a 51% equity interest in Shanghai Qishuo Network Technology ("Qishuo"). Qishuo is a provider of consumer product and retail store digitalization solutions in the retail footwear industry and leading clothing brands. The customer base of Qishuo comprises several leading clothing brands in China. The company believes acquisition of a 51% equity interest of Qishuo is an important complimentary and synergistic strategic initiative and is expected to enable Infobird to accelerate its expansion into the consumer products and retail industry. With the addition, Infobird expects to provide more comprehensive and industry-specific SaaS solutions that focus on the digitalization of customer engagement and retail stores' operation optimization. Additionally, both parties will work together on marketing campaigns, sales channels and customer resources to better achieve cross-selling and up-selling opportunities. Shares are up 5.9% PM.

For further details see:

Infobird enters into equity transfer agreement with Shanghai Qishuo