BEIJING, March 13, 2023 /PRNewswire/ -- Baijiayun Group Ltd ("Baijiayun" or the "Company") (Nasdaq:RTC), a video-centric technology solution provider with core expertise in SaaS/PaaS solutions, today announced that on March 9, 2023, it entered into a securities purchase agreement (the "SPA") with Aoji Holdings Co., Ltd ("Aoji" or the "Purchaser") to divest the Company's 100% equity ownership in Fuwei Films (BVI) Co., Ltd. for a cash consideration of US$30 million (the "Transaction"). The closing of the Transaction is expected to take place by the end of March 2023 (the "Closing Date"), subject to the satisfaction of closing conditions set forth in the SPA. The completion of the Transaction marks the Company's transition into a pure-play real-time communications (RTC) solutions provider.
Read more at prnewswire.comBaijiayun Group Ltd Completes Transition into a Pure-play RTC Provider with Divestiture of Fuwei Films
PR Newswire -
Mon Mar 13, 2023
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