East Stone Acquisition Corporation (ESSC) to Combine with JHD Holdings in $1Bn Deal

East Stone (NASDAQ:ESSC) has entered into a definitive agreement to combine with Chinese merchant payments platform JHD Holdings, for about $1 billion or 12.4x its 2020 revenue. JHD provides merchant, logistics and payments software to retail stores and banking customers in five Chinese provinces. The combined company is expected to be renamed JHD Technologies and
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