China online to buy 8 million dollars for an online marketing service company

(i) Beijing time November 28, 2011, China Online announced today that the company signed a non-binding letter of intent ("LOI") to buy a 8 million U.S. dollars in Beijing, marketing and advertising business Company's 51% stake.　　In the past 12 months as at September 30, 2011, the net income of the potential acquisition (unaudited) was about 7 5 0 dollars, driven by the portal, its three-month average flow ranked No. 5500 in the Alexa rankings, and the daily average IP traffic was 136,000 times. "We are discussing how to establish a leading position in the small office/Home Office (" SOHO ") space, which is a fast growing plate that will help to diversify our income further. Mr Chenghandong, chairman and CEO of the online network, explained. "If we successfully complete this acquisition, we will have a different brand in each customer base: 28 Business opportunities for SME services network;" Chain Network customer base is large and medium-sized franchisee; The acquisition targets small office/Home Office and emerging business. As of September 30, 2011, with about 21 million dollars in cash and operating positive cash flow, we have enough money to finance acquisitions and organic growth. "The company's board is currently negotiating with the purchaser on the final terms and conditions." While there is no guarantee of a successful transaction, the network hopes to complete the deal in the first quarter of 2012 at the latest.