Tom Online Set To Acquire, Well, Someone

Tom Online, a latecomer in the crowded but potentially explosive Chinese Internet market, says it plans to announce an acquisition in the coming weeks…it has been looking to buy companies with a ready subscriber base for the last six months.

“We have $200 million in cash in the bank. We are looking to use half cash and half stock to make an acquisition,” said Wang Lei Lei, founder and CEO.

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