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| September 17, 2012 |
| 07:34 EDT |  | CNET | ChinaNet Online acquires remaining interest in SouYi for $6.5M
ChinaNet Online announced that it will purchase the remaining 49% of the equity interest in Sou Yi Lian Mei Network Technology Co. Ltd. for approximately $6.5M in cash. SouYi provides online advertising and marketing services to small startup businesses. The company will fund the acquisition through cash on hand and operating cash flows. ChinaNet expects the transaction to close by the end of Q4. Upon closing, SouYi will become a wholly-owned subsidiary of the company. |
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