iCafe8 to Acquire Shanghai-Based Internet Cafe Service Firms
Shenzhen Stock Exchange, 9/10/13
Hangzhou-based internet cafe platform operator Shunwang (iCafe8) (300113.SZ) has reached a preliminary agreement with the shareholders of Shanghai-based internet cafe software developers Hintsoft and Paibo, as well as Shanghai-based online advertising firm Linkfield, to acquire 100% stakes in the three companies for a total sum not to exceed RMB 250 mln.
Hintsoft is primarily engaged in the development and sale of internet cafe entertainment, management, and fee-tracking software. Paibo is primarily engaged in the design of network security products and solutions for internet cafe clients. Linkfield operates internet cafe advertising platforms integrated with Hintsoft platforms.
Keywords: Paibo Linkfield Internet online advertising Internet cafe iCafe8 300113.SZ Hintsoft M&A