M&A Deal Summary

XChange Tec Acquires Alpha Mind Technology

On November 22, 2023, XChange Tec acquired insurance company Alpha Mind Technology for 180M USD

Acquisition Highlights
  • This is XChange Tec’s 1st transaction in the Insurance sector.
  • This is XChange Tec’s largest (disclosed) transaction.
  • This is XChange Tec’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2023-11-22
Target Alpha Mind Technology
Sector Insurance
Buyer(s) XChange Tec
Deal Type Add-on Acquisition
Deal Value 180M USD

Target

Alpha Mind Technology

Buckinghamshire, United Kingdom
Alpha Mind Technology is an insurance agency operates nationwide in the PRC with a wide range of insurance products, including but not limited to property insurance, homeowner’s insurance, life insurance, health insurance, business insurance and worker’s compensation insurance. Alpha Mind Technology is based in Buckinghamshire, United Kingdom.

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Buyer(S) 1

Buyer

XChange Tec

Shanghai, China
Category Company
Founded 2012
Sector Real Estate
Employees28
Revenue 652M CNY (2022)
DESCRIPTION

XChange Tec is a technology-driven long-term apartment rental platform in China. Q&K signs long-term leases with individual landlords in different locations and manages them centrally, leveraging its advanced IT and mobile technologies. XChange Tec was founded in 2012 and is based in Shanghai, China.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
Mergr

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