Mergers and Acquistions News
Categories: IT Services & Consulting
December 15th 2009, 16:44PM
AsianInfo Holdings and Linkage Technologies, both leading providers of software and IT solutions to the Chinese telecoms industry, have agreed to merge in a deal valued at approximately $60 million (£36.9 million).
Under the terms of the merger deal, Linkage shareholders will receive $60 million in cash and 26.8 million AsiaInfo shares upon the closing of the transaction, which is expected to form a new entity with a market value of over $1.8 billion (£1.1 billion).
The combined company will also have 34 patents and an additional 27 pending approval in China and the US, while employing some 8,000 people.
"Going forward, we will leverage our products and services, which range from system implementation and maintenance services to high-value consulting, in order to capitalise on China's fast-growing telecom software industry," commented Steve Zhang, president and chief executive officer of AsiaInfo.
Linkage Technologies has a number of big-name clients on its books, including the Emirates Global Islamic Bank, Prudential Securities and Nestle Pakistan.
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