Chinese wireless value-added services provider Hurray! announced it will liquidate its software and system integration unit Hurray! Times Communication to TWM Holding, a unit of institutional shareholder Taiwan Mobile, for $4.8 million. The total consideration is subject to adjustments determined by the financial performance of Hurray! Times following the acquisition's close, which is expected before March 31. "This deal will sharpen our focus on our transformation strategy to become a leading entertainment content production and distribution house in China," said Hurray! chairman and CEO QD Wang.
For more on the Hurray!/Taiwan Mobile deal:
- read this release [1]
Links:
[1] http://www.fiercewireless.com/press-releases/hurray-spin-software-and-system-integration-business