AsiaInfo, a provider of telecom software offerings and IT security products and services in China, has closed its previously announced agreement to merge with Linkage Technologies International (Linkage) and form AsiaInfo-Linkage (AsiaInfo-Linkage).
AsiaInfo and Linkage agreed to merge on December 6, 2009 and recently agreed to a target closing date of July 1, 2010. Under the terms of the agreement, Linkage shareholders received $60m in cash and approximately 26.8 million AsiaInfo shares.
Steve Zhang, president and chief executive officer of AsiaInfo, said: "For over ten years, both AsiaInfo and Linkage have evolved into influential market players in the telecom IT software and solutions vertical, developing best-of-class products and cultivating strong relationships with the three telecom carriers in China.
"As a result of the completion of this transaction, AsiaInfo-Linkage will boast an expanded service offering, stronger R&D capacity and complementary customer bases for cross-selling opportunities. As a leading player in the China telecommunications industry, we will continue to provide high-quality solutions and services to our clients, while capitalizing on new revenue drivers both domestically and abroad."
