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Article: CDC MOBILE TO ACQUIRE 100 PCT OF TIMEHEART.
- Article from:
- AsiaPulse News
- Article date:
- August 9, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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(Full text of a statement. Contact details below.)
HONG KONG & BEIJING, China--(BUSINESS WIRE)--Aug. 8, 2006--CDC Mobile, a wholly owned subsidiary of China.com Inc., a business unit of CDC Corporation (NASDAQ: CHINA), announced it has agreed to acquire 100 per cent of Timeheart, another leading Mobile Valued Added Service ("MVAS") provider in China.
The maximum consideration payable, subject to the achievement of certain financial milestones over the next 16 months, is approximately US$25.4 million.
The maximum consideration will be comprised of approximately US$2.0 million in cash and US$3.7 million in China.com shares and the remaining ...