Message #11 From:
NewsBot Date: October 11, 2005 02:00:00 AM
TEDG News Techedge Subsidiary Announces Tentative Agreement to Acquire Online Sales and Promotion Business in China
ISELIN, N.J.--(BUSINESS WIRE)--Oct. 11, 2005--Techedge, Inc. (OTCBB: TEDG), a leading international mobile VoIP and wireless broadband solution provider, today announced its wholly-owned subsidiary China Quantum Communications Ltd. (CQCL) has reached a tentative asset purchase agreement with Nettv Media (Asia Pacific) Limited (Nettv), for Nettv's MobiChannel unit, an online sales and event promotion company for online entertainment business in China. Terms and conditions of the proposed acquisition were not disclosed.
MobiChannel is a leading sales and promotion company for online gaming industry in China, with over 600 field promotion staff having worked on over 5000 Internet cafes. The acquisition will include tangible and intangible assets of MobiChannel, including its online marketing and promotion system, Internet cafe monitoring system, staff management system, Mobi3 mobile payment system, proprietary SMS gateway, point card system and gift center, entire client base, and brand names, etc.
"We are very excited about this potential strategic acquisition. We believe MobiChannel's online sales and promotion systems and existing business relationships will greatly contribute to our wireless broadband Internet business development in China," stated Peter Wang, President and CEO of Techedge.
About Techedge Inc.
Techedge Inc. (OTCBB: TEDG) is a leading international mobile VoIP and wireless broadband solution provider. The Company provides disruptive and low cost communications solutions combining matured radio with VoIP technologies for emerging service providers. Techedge's IP-PCS solution is the first in the market to support VoIP with regional mobility on unlicensed frequencies for low-cost mobile VoIP services. Its core platform supports various radio technologies such as PACS-UB, Wi-Fi, and WiMax. The solution has been designed for rapid deployment in urban, resort, campus and local communities. For more information, please visit its website at www.techedgenetwork.com.
