DF China Technology Inc. (DFCT.OB) announced that its Board of Directors has authorized the acquisition of two separate Chinese high technology companies. The acquisitions are subject to due diligence and the entering into definitive agreements with the companies.
The first company, DiChain Sky Digital Co. Ltd. (DSD) would be acquired from the Company's parent firm, China Merchants DiChain Group, for cash and shares in exchange for 100% of the common stock of DSD. The second company, China Trader, Inc. (CTI), would be acquired from a third party for cash, in exchange for 100% of the common stock of CTI.
DSD, which was founded earlier this year by China Merchants DiChain Group, is mainly engaged in designing, developing, operating and marketing mobile network games and mobile-internet service applications based on its proprietary mobile application platform. The Company has developed over 30 mobile gaming products and has now begun to market the product. In addition to mobile gaming development, the Company plans to develop more commercial applications for mobile-internet services.
CTI recently become one of the leading supply-chain e-Commerce services providers in China. CTI provides international trading information and related services to its corporate members via its vertically-integrated information exchange platform. Currently, the company has over 50,000 corporate members who have been actively using the services and infrastructure to conduct their trading business