IT: Deal rung up
(Shanghai Daily)
Updated: 2006-08-08 13:48 China.com Inc, which sells
ring tones and games for mobile phones, agreed to pay as much as HK$198.2
million (US$25 million) to acquire Beijing TimeHeart to expand in China.
China.com will pay HK$15.8 million in cash and HK$166.2 million in shares for
TimeHeart, which creates cell-phone content such as ring tones and games, the
company said yesterday in a statement.
Hong Kong-based China.com said it
may pay a further HK$16.2 million in shares based on the performance of its
wireless services business after the acquisition.
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