Intrinsic Technology (Holdings) Ltd. (ITHL) today announced the acquisition of its 100% owned subsidiaries, Shanghai Intrinsic Technology Ltd. and Shanghai I-Sense Communications Ltd., by Discovery Telecommunications Ltd. (DT).

The financial terms of the acquisition were not disclosed. After completion, DT will continue to expand ITHL's mobile carrier software operations in China under the name DT Intrinsic by utilizing competitive strength of both parties. Post-acquisition DT Intrinsic will strengthen its pioneer position in China's wireless data industry. DT Intrinsic will continuously develop SMS billing and content management platforms, and operate value-added CDMA 1X consumer services, for mobile operators.

In addition to DT Intrinsic, ITHL spearheaded the formation of two companies–Linktone and Smartpay Systems Ltd. Linktone is a provider of mobile value-added services. Smartpay, which is privately held, operates SMS and internet-enabled consumer payment transaction services in China under the brand name "Jieyin." ITHL remains a shareholder in Linktone and Smartpay, as well as other businesses including Dialy, a mobile service provider based in Morocco, and Digital Innovations, a Shanghai-based mobile software business.