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SYNNEX Acquires HiChina Stake
April 9, 2007 |
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SYNNEX Corporation (SNX) has purchased controlling interest of Cayman-based China Civilink (Cayman), which operates in China as HiChina Web Solutions, a domain name registrar and website hosting firm.
"HiChina is a well respected organization and a pioneer in the eCommerce business in China," stated Robert Huang, president and CEO of SYNNEX Corporation. "This acquisition provides SYNNEX with an effective eCommerce vehicle and a broad customer base, including over 300,000 profiled end-users, to evolve our emerging supply chain services business in China."
HiChina is headquartered in Beijing and has approximately 360 employees. This company will continue to operate as a stand-alone entity under the HiChina Web Solutions name. Neither company released details on the amount of money used to purchase this stake.
"SYNNEX is a world class organization that is very well-positioned to support HiChina’s plans for growth and expansion initiatives," stated Stan Zhang, CEO and founder of HiChina Web Solutions. "We are delighted to be joining the SYNNEX team and look forward to our next phase of development."
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