Hunan TV & Broadcast to Acquire 45% of Cloud Computing Firm Wootide
Hunan TV & Broadcast Intermediary, 8/27/14
Provincial cable TV operator Hunan TV & Broadcast Intermediary (000917.SZ) has announced plans to acquire a 45% stake in Jiangsu-based M2M and cloud computing solutions provider Wootide Technology for RMB 122.7 mln in a move to develop the company's traditional and new media businesses.
For the full year 2013, Wootide had total assets of RMB 56.29 mln, net assets of RMB 42.06 mln, operating revenue of RMB 24.05 mln, and net profit of RMB 3.92 mln.
Wootide develops and operates Internet of Things (IoT) and cloud computing solutions, including construction, integration and operation of IoT and cloud computing platforms. Wootide has branches in Shanghai, Beijing, and Guangdong, and is currently setting up offices in the eastern Chinese provinces of Anhui and Zhejiang as well as the southern Chinese province of Guangxi.
Editor's Note: For more information on this topic, please see "Wootide to Build E-Government M2M Platform in Hunan," MD 3/17/11 issue.
Keywords: profit revenue wireless cloud computing M2M Hunan TV & Broadcast Intermediary 000917.SZ Wootide IoT M&A television
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