Intermost Corporation (IMOT.OB) announced that its board has approved a merger with Starwin Media Group, which will combine Intermost and Starwin into a media-related company named Starwin Holding Corporation. Starwin Holding will be a media-related corporation dedicated in providing product and services in the US and China market.
Intermost will proceed to call a shareholders' meeting with proxies to approve the merger.
Mr. Andy Lin, CEO of Intermost Corporation, said, "Starwin's television network will broadcast via satellite and also has an intended IPTV platform with 150 channels allowing telephone companies to offer this less expensive service with competitive rate to their subscribers. Equipped with the video streaming technology, Starwin is also aiming to deliver mobile and Internet security surveillance capability together with Starwin's media content to cellular phone, computer, and PDA, which allow wireless operators to offer new services to their subscribers."
"Intermost will continue to strengthen its leading position in equity exchange business in China, which will also provide financial news, data and information to Starwin Media Group's TV channels," Mr. Lin added.