IBM Acquires Stake in BOCO Inter-Telecom

National Business Daily, 7/01/10

BOCO Inter-Telecom (600289.SH) has announced that on June 30 IBM's China unit purchased 5.9172 mln shares in BOCO Inter-Telecom from Chinese telecom solutions and security software developer's parent company, BOCO Group, for RMB 50 mln. Based on BOCO Inter-Telecom' 2009 fiscal report, the transaction makes IBM the company's fourth largest shareholder with a 1.05% stake. After the transaction, After transaction, Boco Group's holding in BOCO Inter-Telecom will decrease from 25.02% to 23.97%.

BOCO Inter-Telecom said this marks the first time IBM has acquired a stake in a company, and that the share sale is aimed at introducing a world-class strategic investor, as well as strengthening the company's new product R&D and promoting its applications, solutions and existing products on the international market.

Keywords: telecom 600289.SH BOCO Inter-Telecom IBM strategic investor telecom software

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