At last check in pre-market trading, shares of Cloopen Group Holding Limited (RAAS) were up 5.05% at $3.33. RAAS stock closed last session at $3.17, decreasing -1.55% or -$0.05. Price of the RAAS stock fluctuated between $3.10 and $3.36 throughout the day. The number of shares of RAAS stock exchanged on the day was 0.94 million, less than the company’s 50-day daily volume of 1.58 million and lower than its Year to date volume of 1.57 million.
In the last one week, the RAAS stock has moved up 17.41% while for the last six months, the stock has lost a total of -65.54%, and over the last three months, the stock has decreased by -35.83%. RAAS stock has returned -93.40% so far this year. RAAS stock is rising following an acquisition agreement.
RAAS is obtaining what?
Cloopen Group is a main multi-capacity cloud-based correspondences arrangement supplier in China offering a full set-up of cloud-based interchanges arrangements. RAAS solutions covers communications platform as a service (CPaaS), cloud-based contact centers (cloud-based CC), and cloud-based unified communications and collaborations (cloud-based UC&C). RAAS’ mission is to upgrade the everyday correspondence experience and functional usefulness for enterprises. RAAS tries to drive the change of big business correspondences industry by offering creative promoting and functional strategies and SaaS-based devices.
Cloopen Group reported that it has gone into a conclusive consent to procure the whole value interests of Zhuge Inc. (“Zhuge”), a client driven smart information arrangement supplier, for a blend of money and offers thought.
- The offers gave will represent under 1% of the Company’s extraordinary offer capital on a a fully-diluted basis.
- The offers will be given under a private position according to an exception or avoidance from the enrollment prerequisites under the Securities Act.
- The exchange is relied upon to be finished in December 2021, dependent upon standard shutting conditions.
- There is no affirmation that the transaction will be concluded inside the expected time period, or by any means.
- Investors are forewarned not to put excessive dependence on this declaration.
- In the course of recent years, Zhuge has committed itself to helping customers in accomplishing information driven development, repeating RAAS obligation to drive the advanced change of RAAS venture clients.
- Keeping that in mind, Zhuge has persistently overhauled and enhanced its items so as to help more use cases.
- The joining of Zhuge will fortify RAAS’ information ability and support its upper hand in clever venture advertising and client care arrangements.
How might that joining be utilized?
Going ahead, along with Zhuge, RAAS will offer a more exhaustive and synergistic item portfolio utilizing its separate skill in big business interchanges and information knowledge. Then again, along with Cloopen (RAAS), Zhuge will actually want to benefit from this industry drift and give endeavors further developed clever information items and administrations.