Skip to content

Tencent-Backed Firm G7 Merges With Alibaba-Backed E6

  • Respective brands and operations will be maintained separately
  • G7 valued at $2.2 billion before merger with smaller E6
Updated on

G7 Connect Inc., a fleet management company backed by Tencent Holdings Ltd., has agreed to merge with its smaller competitor E6, which counts a unit of Alibaba Group Holding Ltd. as an investor, bringing the two Chinese platform giants together as shareholders in the combined firm.

Both G7 and E6 will retain their own brands and independent operations while they seek synergies in areas where they overlap, according to a press release seen by Bloomberg News.