TD Holdings To Acquire Digital Cloud Warehouse Software Copyrights For Cryptocurrency Transactions

China’s TD Holdings, Inc. (NASDAQ: GLG) subsidiary Tongdow (Hainan) Digital Technology inked a letter of intent (LOI) with Yunfeihu IoT and Tongdow E-commerce Group on February 5, 2021, to acquire eight software copyrights for commodities storage in digital cloud warehouse.
The acquisition will ensure further diversified settlement channels of commodity trades, including payments via bitcoin or other encrypted currencies, and improved warehouse order tracking system efficiency.
The eight software copyrights include Smart Hardware Management Platform System 3.0, Smart Storage System Management Software, Lecheng Smart HD Video Conference System V1.0, Smart Storage APP system, Flat Panel Vehicle APP System, Smart Storage Hans-Held Device APP System, Statistical Management of Account Transfer Fees of Warehouse Orders System V3.0, and Supply Chain Finance OA System V1.0.
The financial terms of the acquisition were not disclosed. The purchase price will be based on a valuation report from an independent third-party agreed upon by the parties.
Tongdow E-commerce and Yunfeihu would be bound by an exclusivity period of 6 months with Tongdow Hainan to transfer the eight software copyrights.
Price action: GLG shares are up 7.36% at $2.48 in the pre-market session on the last check Wednesday.