iClick Interactive Asia reported "solid" Q2 results, delivering revenue upside from traction in enterprise solutions, Benchmark analyst Fawne Jiang tells investors in a research note. However, the company lowered its fiscal 2019 revenue guidance and gross margin outlook due to continued adverse currency impact and advertising pricing pressures, Jiang tells investors in a research note. Nonetheless, the analyst is encouraged that iClick's enterprise solution segment is expected to emerge as a key driver of longer-term sales growth and margin expansion. She lowered her price target for the shares to $8 from $9 and reiterates a Buy rating on the name.

iClick Interactive Asia Group announced the termination of the previously announced agreement and plan of merger, dated as of November 24, 2023, by and among the company, TSH Investment Holding Limited, and TSH Merger Sub Limited. On March 29, 2024, the company delivered to the Parent a notice confirming the satisfaction of the closing conditions under the Merger Agreement and that the company is ready, willing and able to consummate the closing contemplated under the Merger Agreement. Since the delivery of the Closing Notice, the company has been communicating and cooperating with the Parent, Merger Sub and their representatives towards the Closing, but the Parent and Merger Sub have failed to complete the Closing within ten Business Days following the delivery date of the Closing Notice pursuant to Section 8.03(b) of the Merger Agreement. On April 26, 2024, the company sent a notice of termination to the Parent and the Merger Sub pursuant to Section 8.03(b) of the Merger Agreement, notifying the Parent and the Merger Sub that the company is exercising its right to terminate the Merger Agreement pursuant to Section 8.03(b) of the Merger Agreement and demanding the Parent to pay the $1.8M termination fee pursuant to Section 8.06(b) of the Merger Agreement by May 9, 2024. As a result of the termination of the Merger Agreement, the proposed merger will not be completed.