Datang Telecom has announced that it will acquire 51% of FibreHome, a Beijing software company, as part of Datang's efforts to integrate its own software business.
Datang says that two of its subsidiaries, Datang Software and Beijing Kaitong Technology, will spend a total of CNY9.1 million cash acquiring 51% of the stake of Beijing FibreHome Stronger Software Technologies Company.
Datang holds 90% and 87.48%, respectively, of Datang Software and Beijing Kaitong Technology.
After the transaction, Datang will sell all its stake in Beijing Kaitong to Datang Software and use to money to make additional investments.
After all these acquisitions are finalized, Datang Software will become a holding company with a total capital of about CNY126.75 million.