Benzinga | Sep 22, 2021 12:17PM EDT

E-Home To Acquire 51% Equity Interests Of Sijie Cleaning For Undisclosed Sum

* E-Home Household Service Holdings Ltd's (NASDAQ:EJH) affiliated variable interest entity, Pingtan Comprehensive Experimental Area E Home Service Co., Ltd., has agreed to acquire 51% equity interests of Fuzhou Sijie Cleaning Service Co., Ltd. in cash. The financial terms were not disclosed.

* Sijie Cleaning is an integrated and professional cleaning company that mainly provides cleaning services, environmental testing, formaldehyde treatment, and indoor and outdoor wall cleaning.

* E-Home expects the acquisition to expand its household cleaning business to the public places cleaning market and improve cleaning business service capacities and scopes.

* Sijie Cleaning owns a one-stop home cleaning training base and a home cleaning flagship store, providing leather care, dry cleaning, curtain cleaning, and other services.

* E-Home Household held cash and cash equivalents of $43.52 million as of December 30, 2020.

* Price Action: EJH shares are trading lower by 1.74% at $2.82 on the last check on Wednesday.