Shiji Group announced today that its subsidiary, Shiji Commercial Information Technology Co., Ltd., successfully completed the majority share acquisition of Hisense Intelligent Commercial Systems Co., Ltd.
Shiji Group now holds a total of 82.75% of Hisense ICS, becoming the controlling shareholder of the company. Previously holding 25% equity, the new acquisition of 57.75% equity continues the company’s strategy of retail technology growth. The 57.75% equity purchase amount was approximately 462 million RMB.
Hisense Intelligent Commercial Systems Co., Ltd is a subsidiary of Hisense that specializes in manufacturing point-of-sale terminals and equipment. The company counts amongst its clients some of the largest retail and restaurant chains in China and the world.
Through the acquisition of Hisense Intelligent Commercial Systems Co., Ltd, (Hisense ICS), Shiji will be able to provide its hotel, catering, retail, and other industry customers with hardware that is closely integrated with Shiji’s products. This integration will create more value for its users and facilitate innovation for next-generation integrated cloud systems.
As the industry's leading provider of hardware solutions, Hisense ICS offers its hardware products for a wide variety of industries and currently serves more than half of the top 100 independent and chain retail outlets in China.
Hisense ICS’s high standards and experience in technology, R&D, quality, and service have enabled the company to lead the Chinese POS industry. By connecting Hisense ICS’s hardware solutions with Shiji Group’s software platforms, the company can further enrich its current global portfolio and meet changing market demands.
Shiji Group’s enterprise users can now streamline their operational and management processes through the complete end-to-end solution that connects hardware, cloud POS and world-class services together. This merger will create a single-solution provider to allow hotel and restaurant chains to focus on delivering superior guest experiences.