Ultrapower to Acquire Mobile Solutions Provider Wichina

Shenzhen Stock Exchange, 8/15/13

Beijing-based IT solutions provider Ultrapower Software (300002.SZ) announced today that it plans to raise more than RMB 55 mln to purchase a 100% stake in Beijing-based mobile internet solution provider Wichina. Established in June 2006, Wichina has registered capital of RMB 25.9 mln and is primarily involved in platform and mobile client R&D, operating services, and precision marketing solutions for China Mobile's (NYSE: CHL; 0941.HK) vertical service bases and provincial branches. Wichina is currently the primary mobile animation tech support provider for China Mobile.

In 2012, Wichina recorded revenues of RMB 41.4 mln, and net profit of RMB 6.8 mln.

It has been rumored that Ultrapower is planning to purchase Beijing-based mobile game developer Kemu Software (Camel Games).

Editor's Note: For more background on this topic, please see "Rumor: Ultrapower to Acquire Camel Games" MD 8/12/13 issue.

Keywords: Wichina wireless Ultrapower 300002.SZ IT services M&A animation mobile gaming

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