BOE A recently announced that its subsidiary company, BOE Smart Retail (Hong Kong) Limited ("BOE Hong Kong") SPV, has completed the acquisition of SES-imagotag ("SES") shares of French retail networking company. On March 16th, SPV acquired a total of 358.25 million shares in a comprehensive offer.
So far, SPV has cumulatively held 10.8892 million SES shares, accounting for 79.94% of its outstanding shares, and paid a total consideration of 324 million euros (equivalent to approximately 2.53 billion yuan), and realized consolidated financial statements for SES.
As early as June 2017, the 15th meeting of BOE's 8th Board of Directors reviewed and approved the "Proposal on the Acquisition of SES-imagotag Shares", which was jointly funded by the company's wholly-owned company and the investment platform designated by SES management. The company SPV (BOE Hong Kong) purchased more than 50.01% of SES at a price of 30 euros per share through a bulk transaction.
It is reported that SES is a digital solution provider in the retail sector in France, such as electronic shelf labels and digital signage. Currently, there are 150 million electronic labels in more than 50 countries worldwide, 100 retail brands, and 12,000 stores have been applied.
According to BOE, at present, the Electronic Shelf Labels (ESL) are not only widely used in retail areas such as high-end shopping malls, supermarkets and convenience stores, but also play an important role in application scenarios such as logistics and warehousing, and inventory management. By 2020, the global ESL market will grow at a rate of 30% every year. By 2020, the market size will reach 10 billion yuan, and the Asia-Pacific region will become one of the fast-growing regions with huge market potential.
After the completion of the acquisition of SES, BOE will provide continuous resource support for its future development in the areas of supply chain, product manufacturing, cloud computing and customer resources in the market. The two sides will complement each other to jointly create a smart retail ecosystem.