JD.com (JD) Announces Entry into Definitive Agreements to Spin Off JD Cloud & AI Business to JD Digits

JD.com (NASDAQ: JD) disclosed:

On March 31, 2021, JD.com, Inc. (the “Company”), through a subsidiary, entered into definitive agreements with Jingdong Digits Technology Holding Co., Ltd. (“JD Digits”), pursuant to which the Company will transfer JD Cloud & AI business and certain assets, together valued at approximately RMB15.7 billion, to JD Digits, as consideration and in exchange for issuance of ordinary shares by JD Digits. Upon completion of this transaction on March 31, 2021, the Company’s equity interest in JD Digits increased to approximately 42%.

The Company believes that, through this transaction, the Company will continue to focus on its core competences and synergistic businesses to better serve customers, and JD Digits will be better positioned to deliver a suite of cutting-edge technology services to its business partners.

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