Shiji Group acquires majority ownership of Hisense Intelligent Commercial Systems
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 yuan.
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.
"We are committed to becoming a comprehensive solution service provider for the larger consumer industry. In order to make this vision come true, we need to mobilize our resources both up and down the industry chain. The acquisition of Hisense will enable our company to provide customers with more comprehensive solutions," said Mr. Guan Dongyu, Vice President of Shiji Group.
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.
About Hisense Intelligent Commercial Systems Co., Ltd.
Hisense Intelligent Commercial System Co. Ltd is the core enterprise for the IT modules in Hisense group. It is devoted to research on circulation information solutions and aims to provide comprehensive information solutions such as software, hardware, consulting, operation and maintenance as well as various terminal products for its users. Its products covers areas including commercial software, Retail & Hospitality POS systems, financial payment and sports lottery terminals.
Starting to focus on the research, development and sales on Retail & Hospitality POS products in 1989, Hisense is one of the earliest companies engaging in circulation information research and practice. Relying on the strong scientific research power from Hisense national level research and development center and adhering to the development strategy of "Technology Utmost and Stable Operation", Hisense insists on technology innovation. Based on independent research and development, it has achieved technology breakthrough in various areas including the commercial software, Retail & Hospitality POS systems, and financial payment. It has become the most influential Chinese brand in its POS industry.
Phone: +86 10 5932 5388 86856
About Shiji Group
Shiji Group provides software solutions and services for the hospitality, food service, retail and entertainment industries, ranging from hotel management solutions, to food and beverage and retail systems, payment gateways, data management, online distribution and more.
Founded in 1998 as a network solutions provider for hotels, Shiji Group today comprises 4,000 employees in 70+ subsidiaries and brands, serving over 60,000 hotels, 200,000 restaurants and 400,000 retail outlets.
With the benefit of investment partners such as Alibaba, Shiji develops a network of cloud technology platforms that facilitate data exchange by connecting businesses vertically and horizontally across related industries. The importance of cross-industry integration to connect all levels of the supply chain, from guests, to distributors and suppliers of all types is a critical part of our mission. Our goal is to facilitate the transition to fully integrated systems for our clients through a network of platforms that communicate securely and easily so our clients can focus on their core competencies of serving their customers and guests.