Hitek Global to Acquire Digital Marketing Firm Ju Fu for $20 Million
Xiamen-based IT provider Hitek Global Inc. has entered into a definitive agreement to acquire Ju Fu Limited, an advertising and digital marketing firm, for $20 million. The deal marks a strategic pivot for the Nasdaq-listed company as it seeks to diversify its service offerings beyond traditional tax control systems.
The transaction involves a mix of $14 million in cash and 4 million Class A ordinary shares. The cash component includes an $11 million payment due across two closing stages, with an additional $3 million tied to specific performance milestones. The acquired entity, Ju Fu, operates through its subsidiaries under the brand Beijing Fourth Coco, specializing in media planning, performance marketing, and data analytics.
Huang Xiaoyang, CEO of Hitek, noted that the acquisition serves as a vehicle for the company to enter new business segments. The first stage of the transaction is slated for completion around August 11, 2026. Hitek currently focuses on IT consulting and tax-related hardware, and this move represents a significant expansion of its operational footprint into the competitive digital advertising space.
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