CLPS Inc. (NASDAQ: CLPS) stock rises by 6.83% in the current market trading session. CLPS Incorporation, based in Hong Kong, is a world leader in information management consultancy and technologies for the finance, insurance, and financial services industries. Clps Incorp represents a rising network of clients in the global financial services industry as an IT solutions provider.
CLPS and Minshang Creative Technology Holdings Limited formed a strategic partnership today to jointly create next-generation loan trading tools and explore the global financial technology services industry.
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CLPS stepped into a Capital Increase Agreement with MCT on May 18, 2021, via its wholly-owned subsidiary, Growth Ring Ltd. CLPS will own 53.33 percent of MSCT Investment Holdings Limited, a wholly-owned affiliate of MCT, until the sale closes, and MSCT will own the intellectual property rights to MCT’s loan trading program.
CLPS will use its strategic edge and vast expertise as an IT services supplier to multinational banks and other financial institutions to update and expand current loan trading applications in order to meet the needs of the international industry. CLPS plans to introduce the new generation loan trading program in Hong Kong and Southeast Asia after the active update, which includes an upgraded framework and globally approved functionality.
Mr. Raymond Lin, Chief Executive Officer of CLPS, commented:
As part of their global growth policy, CLPS has concentrated on their mergers and acquisitions program not just in China, but also internationally. CLPS’s partnership with MCT, which includes the purchase of a majority ownership interest in MSCT as well as a strategy to improve its loan trading tools, adds to their ability to create high-quality products and solutions. It would also give CLPS a competitive advantage and speed up their technical advancement in other countries. Also, he assumes the relationship will be a significant step forward in their business growth, allowing them to increase brand recognition in Hong Kong, Southeast Asia, and other regional markets.