Pacific Internet (Hong Kong) Limited, a wholly owned subsidiary of Pacific Internet Limited (PCNTF), announced the formation of an equity joint venture with China-based telecommunications equipment and services provider, Zhong Ren Telecom to market integrated IP communication applications in southern China.
Under the agreement, Pacific Internet (Hong Kong) Limited and Zhong Ren Telecom will each hold 50% of the equity interest of equity joint venture (EJV).
The new joint venture will leverage each partner's knowledge of China, Hong Kong, and other Asian markets, offer China-based businesses operating in the region a suite of integrated communication applications on an IP platform.
The cooperation with Zhong Ren Telecom marks Pacific Internet's first official strategic partnership to penetrate the China market.
Pacific Internet will leverage Zhong Ren Telecom's established presence to service the China market with a secured IP network and integrated IP services.