Canada's Nurun, a subsidiary of Quebecor Media, says it anticipates the closing of a transaction to acquire Shanghai-based China Interactive before Spring Festival 2006.
Nurun will pay a combination of cash and common shares of Nurun, and deferred payments of cash and common shares of Nurun, subject to certain adjustments linked to the performance of China Interactive.
"We are working with the China Interactive's executives and shareholders to conclude an agreement that will allow us to definitively combine our respective IT and interactive marketing capabilities, and help us to better serve some of our global clients already established in China and develop new business opportunities in this strategic market," commented Jacques-Herve Roubert, President and Chief Executive Officer of Nurun.
China Interactive has been operating in China since around 1999 and builds websites and plans online marketing campaigns for its clients.
