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Rumor: UTStarcom to Purchase Borqs

21st Century Business Herald, 2/23/10

Chinese network solutions provider UTStarcom (Nasdaq: UTSI) has denied rumors that it is planning to acquire Borqs, a Beijing-based design house specializing in mobile operating systems and smartphone platforms. If the deal goes through, an industry source said, UTStarcom could regain the high ground in the 3G market. Former Borqs CEO Huang Shaoqiu said that the rumored merger was "a possibility, if the two companies' services and strategies complement each other and their stockholders agree to the deal."

Editor's Note: Borqs VP Wang Tun said that rumors of a UTStarcom acquisition were groundless, and that the company was unaware of any such plans.

Borqs is a partner of China Mobile (NYSE: CHL; 0941.HK) on its Android-based OMS operating system, which is used to power China Mobile's "OPhone" branded smartphones.

Keywords: Huang Shaoqiu wireless OPhone OMS 3G Borqs UTSI UTStarcom mobile OS M&A Wang Tun

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