The Board of Directors of UFIDA Software Company has approved the company to set up a mobile e-commerce company jointly with Japan-based telecom company NTT DoCoMo.
UFIDA will invest US$8.42 million into the new company called Fidatone Mobile Technology and Service Company and hold 66.67% of its shares. DoCoMo will invest US$5 million and hold the remaining shares.
In addition, UFIDA will take three of the five chairs at Fidatone's board of directors and will be entitled to appoint the president for the new company.
NTT DoCoMo is the largest mobile operator in Japan with more than 52 million users. At the same time it is also one of the founders of WCDMA technology. UFIDA says it chose DoCoMo because of its strength in the application of mobile communications technology in e-commerce and it hopes to increase its competitiveness in the mobile e-commerce field through this cooperation.