Huang Mingsheng, CEO of 263.net and a veteran in Chinese Internet sector, has acquired the development team of graphic software firm COOL66 and set up a network technology company called Kaiping Media.
The new outfit is registered as a wholly-owned company of Beijing Capital Online Information Service Company, the operator of 263.net. Its formal name is Beijing Capital Online Network Technology Company.
COOL66 is a desktop-based online picture sharing software which enables computer users to automatically update and browse their pictures and view the daily weather information.
It is still unknown how 263.net will use COOL66 after this acquisition.