(RTTNews.com) – SYSWIN Inc. (SYSW) announced the completion of the merger contemplated by the previously announced Agreement and Plan of Merger dated December 24, 2012.

The company said that the merger is among Brilliant Strategy Limited, a business company with limited liability incorporated under the laws of the British Virgin Islands, Brilliant Acquisition Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of Parent, and the Company.

SYSWIN said that as a result of the Merger, it became a wholly-owned subsidiary of Parent.

Under the terms of the Merger Agreement, each ordinary share of the company issued and outstanding immediately prior to the effective time of the Merger, other than the Shares and the company’s American depositary shares beneficially owned by the Buyer Group and the Shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their appraisal rights under the Cayman Islands Companies Law, has been cancelled in exchange for the right to receive $0.5125 and each ADS, each representing four Shares, represents the right to receive $2.05, in each case, in cash, without interest and net of any applicable withholding taxes.