Orrick Advises on US$155 Million Take-Private of Sungy Mobile


Orrick has advised Mr. Yuqiang Deng, Chairman and CEO of Sungy Mobile Limited (NASDAQ: GOMO; the “Company”), and the consortium that he formed in taking the Company private. The consortium consisted of Sungy Mobile’s co-COO Mr. Zhi Zhu, several funds managed by IDG Capital Partners and CBC Mobile Venture Limited.

Based in China, Sungy Mobile is a leading provider of mobile internet projects and services globally with a focus on applications and mobile platform development. It went public in November 2013.

Sungy Mobile has entered into an Agreement and Plan of Merger with Sunflower Parent Limited (“Parent”) formed by Mr. Yuqiang Deng, the consortium and Sunflower Merger Sub Limited, a wholly owned subsidiary of Parent.

The deal values Sungy Mobile at approximately US$155 million. It closed on November 18, 2015.

The Orrick team was led by Shanghai-based corporate partner Jie (Jeffrey) Sun and San Francisco-based M&A and private equity partner Richard Vernon Smith, along with San Francisco-based M&A and private equity senior associate Hari Raman, Shanghai-based corporate associate Lu (Echo) Wang and consultant Chen Lu.