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News Breaks
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March 23, 2010
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| 06:02 EDT |  | LTON |
| theflyonthewall.com: | Linktone announces acquisition of InnoForm Group Singapore | | Linktone announced that it together with its major shareholder, PT Media Nusantara Citra Tbk, or MNC, have completed the acquisition of 75% of the share capital of InnoForm Group. InnoForm is a Singapore-based company with regional offices in Malaysia, Taiwan and Hong Kong, specializing in the development, distribution and licensing of edutainment and entertainment products. It is one of the industry's leading VCD/DVD/CD distributors for both the English and Chinese language markets in Singapore and the Asian region. Linktone and MNC agreed to pay SGD9.75M in cash to acquire 75% of the share capital of InnoForm. Linktone and MNC will hold 50% and 25% of the share capital of InnoForm, respectively. In addition, Linktone and MNC have the option to purchase the remaining 25% of outstanding share capital, whereby 15% of the share capital can be purchased within 18 months, and the other 10% of the share capital can be purchased within 30 months, from the agreement date. :theflyonthewall.com |
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