AsiaInfo closes deal to buy rival Chinese telecom company Linkage Technologies
By APThursday, July 1, 2010
AsiaInfo closes deal to buy Linkage Technologies
NEW YORK — AsiaInfo Holdings Inc. said Thursday it has closed its acquisition of rival telecommunications company Linkage Technologies International Holdings Ltd.
AsiaInfo, based in Beijing, said it paid $60 million in cash and 26.8 million of its own shares for the privately held company. AsiaInfo’s stock closed at $21.86 on Wednesday, bringing the total value of the deal to roughly $646 million.
The company is betting that Linkage, which is based in Nanjing, China, will give it a stronger research and development operation and a complementary base of customers to sell an expanded set of products to.
In morning trading, AsiaInfo shares rose 18 cents to $22.04.
YOUR VIEW POINT
