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China Finance Online Acquires Shenzhen Genius for US$1M

 

ChinaeCapital Inc.:

China Finance Online (CFO) Co. Limited (Nasdaq: JRJC) announced that it, together with its affiliate, entered into an agreement on July 3, 2006 to acquire Shenzhen Genius Information Technology Co., Ltd. Genius is a financial information database provider mainly serving domestic securities and investment firms. This acquisition is expected to strengthen the Company's leading position in the industry and to provide future opportunities to develop database products. According to the acquisition agreement, CFO and its affiliate will pay US$1,000,000 to Genius's shareholders in exchange for 100% of the equity of Genius. Further, CFO will pay HK$484,425 (approximately US$62,370) to a shareholder in satisfaction of outstanding amounts owed by Genius pursuant to a prior loan made by such shareholder. The acquisition, subject to PRC regulatory approvals and other customary closing conditions, is expected to close by the end of August 2006. Genius engages in the business of constructing and maintaining financial information databases and providing networked information solution. As the first company of its kind in China, it built databases and provided electronic information networks for domestic securities and investment firms at the time of its establishment in 1994. versea Investment for Startup Company, Foreign PRC IT Investment, Oversea PRC IT Investment
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ChinaeCapital has an excellent programs for enabling eBusiness owners, potential eBusiness buyers and sellers to come together and identify business opportunities for their on-line assets.
We have an extensive network of industry connections and commercial relationships
with eBusiness owner and eBusiness buyers throughout the world.

 

 
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