TOM Online, one of China’s largest Internet and mobile content companies, is buying mobile content/entertainment company Infomax, for about $75 million. The price is about about 2.5 to 3.5 times of Infomax’s 2006 earnings, and 3 to 4 times its 2007 earnings.
Tom Online will gain access to “Infomax’s extensive TV distribution network which reaches out to hundreds of millions of Chinese households,” the company said. Infomax has deals with TV operators and other entertainment companies, and providing mobile interactive products and services to TV audiences since 2003.
More info in the release here.
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