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DF China Technology to acquire 2 firms
(Shenzhen Daily/Agencies)
Updated: 2004-12-16 14:29

Hardware and software developer DF China Technology Inc announced late Tuesday its board of directors had approved the acquisitions of two high-tech companies.

"We will sign the memorandum of understanding with the two targets and our acquisition team has already commenced the due diligence process," Frank Fan, chairman and CEO of DF China Technology, said in a statement.

"The two proposed acquisitions reflect our company's new vision and strategy to become one of the top Chinese information technology companies that are listed in the US capital market," Fan said.

The NASDAQ-listed company planned to acquire DiChain Sky Digital Co Ltd, a mobile application developer, from its parent China Merchants DiChain Group in cash and common stock, Fan said without disclosing financial details.

It will also acquire China Trader Inc, an e-Commerce service provider with more than 50,000 corporate customers.

DF China Technology focuses on developing and marketing GIS (Geographic Information System), GPS (Global Positioning System), wireless and Web technologies, and IT consultancy.

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