Renren Inks Software License Agreement With Guangzhou Yupu

by Shivani Kumaresan, Benzinga Staff Writer

April 8, 2022 8:17 AM | 29 seconds read |

Renren Inc 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.