Techedge's (TEDG) wholly-owned subsidiary China Quantum Communications Ltd has reached a tentative agreement with China Unitop Electronics to acquire Unitop's communications business unit, which has deployed one of the largest metro Wi-Fi networks in China.
Terms and conditions of the proposed acquisition were not disclosed.
Techedge is a leading international mobile Voice over IP (VoIP) solution provider. The company has pioneered a disruptive and low cost communications solutions combining matured radio and VoIP technologies for emerging service providers to address customers' communications needs. Techedge's IP-PCS solution is the first in the market to support VoIP with regional mobility on an unlicensed PCS frequency for low-cost mobile VoIP services.
"As wireless Internet technology continues to evolve and wireless Internet applications gain popularity in urban China, compelling opportunities are rapidly emerging for ambitious, insightful and pioneering companies, such as China Quantum. We are very excited about this potential strategic acquisition, and believe it could greatly complement our long term growth objectives in China," stated Peter Wang, President and CEO of Techedge. "Because Unitop shares our enthusiasm for the mutually beneficial opportunity this may represent, we look forward to advancing our negotiations quickly."