JD.com to acquire a minority stake in CECONOMY from Convergenta Invest.

JD.com, an online direct sales company in China, agreed to acquire a minority stake in CECONOMY, a European platform for companies, concepts and brands in the field of consumer electronics, from Convergenta Invest, a German investment holding company. Financial terms are not disclosed. “This partnership with CECONOMY will build Europe’s leading next-generation consumer electronics platform. CECONOMY’s market-leading position, strong customer relationships and growth are impressive, and we are firmly committed to investing in its people and distinct culture to build on this success. We will work with the team to strengthen the capabilities, while applying our advanced technology capabilities to accelerate CECONOMY’s ongoing transformation. Our goal is to further grow CECONOMY’s platform across Europe and create long-term value for customers, employees, investors and local communities. We have full confidence in the management team of CECONOMY and look forward to working together to initiate the next phase of growth," Sandy Xu, JD.com CEO.