21Vianet Group, Inc. announced that it has received $296.02 million in funding from Kingsoft Corporation Limited, Temasek Holdings Limited, and Xiaomi Inc..
January 30, 2015
Share
21Vianet Group, Inc. (NasdaqGS:VNET) announced that it has entered into share purchase agreement for a private placement of 39,087,125 class A common shares and 18,250,268 class B common shares with new investor King Venture, a wholly owned subsidiary of Kingsoft Corporation Limited at $3 per share for gross proceeds of $172,012,179 on November 29, 2014. As a part of the round, the investor will acquire a total 11.6% stake in the company. The investor will have the right to nominate one director on the company's board of directors.
On November 30, 2014, the company announced that it has entered into share purchase agreement for 6,142,410 class A common shares and 10,524,257 class B common shares with new investor Xiaomi Inc. at $3 per share for gross proceeds of $50,000,001. As a part of the round, the investor will acquire a total of 3.4% stake in the company. The investor will have the right to nominate one director on the company's board of directors. The company will issue a total of 45,229,535 class A common shares and 28,774,525 class B common shares for total gross proceeds of $222,012,180.
On December 1, 2014, the company announced that it has entered into share purchase agreement for 24,668,020 class A common shares with existing investor Temasek Holdings (Private) Limited at $3 per share for gross proceeds of $74,004,060. As a part of the round, the investor will hold 13.1% stake in the company. The investor will have the right to nominate one director on the company's board of directors. The company will issue a total of 69,897,555 class A common shares and 28,774,525 class B shares receive total gross proceeds of $296,016,240. The transaction is expected to close in January 2015.
In January 2015, 21Vianet Group, Inc. closed the transaction.
VNET Group Inc, formerly 21Vianet Group Inc, is a carrier-neutral Internet data center services provider. The Company hosts its customers' servers and networking equipment and provides interconnectivity. The Company also provides managed network services to enable customers to deliver data across the Internet through its data transmission network and smart routing technology. The Company provides value-added services, such as content delivery network services, virtual private network services and last-mile wired broadband services. It offers public cloud services, private cloud and hybrid services. The Company also offers container-based data center service. The Company's service offerings include hosting and related services, and managed network services. The Company provides hosting and related services to house servers and networking equipment in its data centers and connects them through its data transmission network, and offers other hosting related value-added services.
21Vianet Group, Inc. announced that it has received $296.02 million in funding from Kingsoft Corporation Limited, Temasek Holdings Limited, and Xiaomi Inc..