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Benzinga
Benzinga
Business
Shivani Kumaresan

Renren Inks Software License Agreement With Guangzhou Yupu

China
  • Renren Inc (NYSE:RENN) has signed a Software License and Distribution Agreement with Guangzhou Yupu Software Technology Co Ltd.
  • The agreement gives Renren's subsidiary SaaS Logistics US Inc, a license to modify, sell, and commercially exploit the licensed software worldwide, except in Mainland China, for a one-time consideration of RMB2 million ($0.31 million).
  • Rui Song, Guangzhou Yupu's former Chief Executive Officer, will serve as CEO of SaaS Logistics US Inc.
  • Price Action: RENN shares closed higher by 0.69% at $21.91 on Thursday.
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