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SmartPay Acquires Intrinsic Technology
January 6, 2005 |
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Privately-held SmartPay Jieyin Ltd has signed an agreement to acquire DT Intrinsic Technology Ltd. Both companies are involved in Internet payment transactions in China.
Intrinsic provides billing and service management software platforms to Chinese mobile carriers through its wholly-owned subsidiaries, Shanghai Intrinsic Technology Company and Shanghai Intrinsic Consulting Company.
Intrinsic was an early innovator in China's wireless industry. Prior to this acquisition, Intrinsic had counted AsiaInfo, Acer Technology Ventures, Lunar Group and Fidelity Investments amongst its shareholders. It has not been disclosed which of these equity holders will remain with Intrinsic.
The combined entity, headquartered in Shanghai, now has over 150 staff, and regional offices in Beijing, Guangdong, Jiangsu, Zhejiang, Anhui, Shandong, Liaoning, Hebei and Chongqing.
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