The company will receive $7.5m, and said in a statement that it may receive more funding this quarter as HQAP introduces the company to potential strategic and financial partners in the Pacific Rim.
Robert Shen, who is now described as an interim CEO, will remain chairman but has opened the CEO spot for Michael Zhao, the co-founder and former COO of AsiaInfo Holdings Inc, a Nasdaq-listed communications service provider.
Shen had been in charge since June 2003 when a management cleanout that saw CEO and CFO leave the company coincided with a funding round that was also led by HQAP.
Zhao, who is said to have extensive experience of China’s Internet infrastructure, said that Asia-Pacific would be a key focus for customer growth in 2004.
This article is based on material originally produced by ComputerWire.
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