TI Cloud Inc. (SEHK:2167) entered into a definitive agreement to acquire Customer Engagement Cloud Business Segment of Beijing Yizhang Yunfeng Technology Co., Ltd. for $14.6 million on December 15, 2022. It is an all-cash transaction. The revenues and gross profits attributable to this business segment were approximately $8.8 million and $6.3 million for the year ended December 31, 2021, respectively. Easemob's pretax profits and net profits (including both customer engagement cloud business and chat API business segments) were both approximately negative $3.7 million for the year ended December 31, 2021. The total assets attributable to customer engagement cloud business segment as of September 30, 2022 was approximately $1.3 million. The transaction is subject to the satisfaction of customary closing conditions and is expected to close during the first quarter of 2023. There is no assurance that the transaction will be completed within the anticipated timeframe.

TI Cloud Inc. (SEHK:2167) completed the acquisition of Customer Engagement Cloud Business Segment of Beijing Yizhang Yunfeng Technology Co., Ltd. on February 1, 2023.