Telecom & Wireless

PacificNet Acquires Guangzhou YueShen

PacificNet Inc., a provider of call center and value-added telecom services (VAS) for China, announced that it has acquired a controlling interest in Guangzhou YueShen TaiYang Technology Limited (Guangzhou YueShen).

Guangzhou YueShen is a distributor of telecom services including calling cards, mobile SIM cards, prepaid stored-value cards, VoIP and IDD calling cards, and bundled insurance cards and loyalty membership cards in China.

Guangzhou YueShen is a top-level distributor for the major telecom operators in China, including China Mobile, China Unicom, China Telecom, China Netcom, and China Railcom. Guangzhou YueShen helps the Chinese telecom operators distribute over CNY 20 million (USD$2.5 million) per month through its channel of telecom resellers.

Further details, including exact amount of equity that exchanged hands, has not been disclosed yet.

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