Thunderbolt announces Thunder See all shares sold

April 1 News, Thunderbolt (Nasdaq:xnet) announced today, the company has signed a legally binding framework agreement with Beijing Jingle International Media Co., Ltd. to sell the company's network video streaming media playback Platform Thunder see all the shares.

Thunderbolt plan will thunderbolt look at the price of 130 million yuan for sale. The Board of directors considered the deal beneficial to the company and its shareholders, which had already approved the deal. Thunderbolt said that Peel Thunder to see in line with the company to streamline the Non-core and unprofitable business of the new strategy to ensure management in the mobile business and "Crystal Project" (Project Crystal) strategy implementation.

The transaction still needs to sign the final acquisition agreement, and the completion of the transaction also needs to meet the following conditions, namely a specific research and development project completion, Thunderbolt look at the domain name and other assets and business transfer, Thunderbolt look at the operation of the licensing and copyright transfer. If the transaction is not completed due to the above factors, the responsible party shall pay another 52 million yuan.

Thunder Chairman and Chief Executive Officer Shenglong said: "I am glad the board unanimously approved the sale of Thunderbolt look." As we said in our last earnings conference call, we think it is necessary to start tackling the changing environment, technological innovation and the wider expectations of our users. "(Abinadab)