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home / news releases / RENN - Renren announces software license agreement

RENN - Renren announces software license agreement

Renren Inc. American Depositary Shares each representing fifteen Class A
Renren (NYSE:RENN) signs a software license and distribution agreement  with Guangzhou Yupu Software Technology. As per the agreement company's subsidiary SaaS Logistics US, gets a perpetual, exclusive, and irrevocable license to modify, sell, and commercially exploit the licensed software worldwide except in Mainland China for a one-time consideration of RMB2M ($0.31M). Also the company entered into an employment agreement with Mr. Rui Song, Guangzhou Yupu's former CEO who will serve as CEO of SaaS Logistics US. The Company expects to further develop and grow its suite of driver-centric SaaS-based services with the acquired software license assets.

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Renren announces software license agreement
Stock Information
Company Name: Renren Inc. American Depositary Shares each representing fifteen Class A
Stock Symbol: RENN
Market: NYSE
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