Rumor: Founder Technology to Acquire Education Sites

Caijing.com.cn, 10/21/10

Fang Zhonghua, chairman of PC and peripheral manufacturer Founder Technology Group (600601.SH), has reportedly asked the company's marketing department to conduct an acquisition feasibility study regarding a number of online education websites, according to a source within the department. Founder Technology is primarily focusing on healthcare and education websites, with a central focus on primary school education. The source said senior management is quite determined, with funds for acquisitions exceeding RMB 1 bln.

The source said the company is committed to entering the online sector, and will soon roll out a vertical website platform. Founder Technology plans to enter three areas: finance, healthcare and medicine, and the IT sector. The IT aspect will not revolve around hardware production and sales, but rather software applications, internet services and key components, such as chips and multilayer printed circuit boards.

Keywords: Fang Zhonghua hardware Internet healthcare software online education Founder Technology Group 600601.SH component peripherals M&A

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