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Article: Alibaba.com to Purchase Controlling Interest in HiChina
- Article from:
- Manufacturing Close-Up
- Article date:
- October 3, 2009
CopyrightCopyright 2009 Manufacturing Close-Up. Provided by ProQuest LLC. (Hide copyright information)
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Alibaba.com has entered into a share purchase agreement to
acquire China Civilink (Cayman), which operates in China as HiChina
Web Solutions, for a total consideration of RMB539.98 million
(US$79.06 million) in cash upon completion of two phases.
HiChina is a provider of Internet infrastructure services in
China, including domain name services, web and server hosting
services, email hosting services and website design and development
services.
With the acquisition of HiChina, Alibaba.com gains four key
assets: a new customer base; new, value-added applications;
automated "do it yourself" Web site technology; and a strong
management and operating team. Regarding the customers, a majority
of ...