UT of the 48.5 million dollars in the United States and the three nets converged
KeywordsUT Tatsu kang triple net fusion Mrvcommunicationsrammax Fei Bo
Developer on Alibaba Coud: Build your first app with APIs, SDKs, and tutorials on the Alibaba Cloud. Read more ＞
Every reporter Huang Qingyan from Shanghai has created "phs myth" of the UT Kangda reorganization has been a concern. February 1, UT, the release of the statement said that the Beijing also Zhuang International Development Investment Co., Ltd. (BEIID) (hereinafter referred to also Zhuang International) on the establishment of a strategic partnership of the matter reached a collegial. According to the agreement, also Zhuang International and two independent investment agencies--rammaxgrouplimited Limited and Shahcapitalmanagement Capital Management company will invest 48.5 million U.S. dollars to UT, in addition, UT will relocate its headquarters from the United States to Beijing. February 2, UT, the internal people of the daily economic news, said that the transfer of headquarters to Beijing mainly for the investors ' consideration. In addition, the company will retain all the business in Hangzhou and Shenzhen. has long nurtured three network integration business--IPTV or will let UT to find a rebirth opportunity. Three companies injected UT in the beginning of last year, UT Kangda is facing a difficult financial situation. Last June, UT's CEO and chief executive, Peter Blackmore, announced a series of restructurings, including operating costs and company resources focused on boosting operational growth and enhancing the company's competitiveness. According to the idea, UT will control its annual operating costs under 100 million U.S. dollars. At the end of December last year, UT Kangda has sold its office building in Hangzhou Riverside to South China Construction group at a price of 950 million yuan. It is understood that this UT Starkon has used 6 years of office building is currently leased to the use of the form of rent back to UT kangda. According to the UT information,--ram Max grouplimited Co., Ltd. and Shahcapitalmanagement Capital Management company will invest 48.5 million U.S. dollars to UT Kangda. According to the content of the investment Agreement, UT will issue about 22 million common shares at $2.2 per share, including $25 million trillion in international capital injections, $12.5 million in rammaxgrouplimited, and $11 million in Shahcapitalmanagement Capital Management. Public information shows that Beijing also Zhuang International Investment Development Co., Ltd. officially opened last March, is a government-led financing platform, registered capital of 3 billion yuan, to invest in loans and other ways to help 10 companies each year. and Shahcapitalmanagement Capital Management is a company that manages the American Virginia State Teacher Fund and a number of funds, assets up to billions of dollars. Earlier, the fund had bought about 5% per cent of the ring car by buying the Hong Kong share of H shares. Prior to the injection, there were rumours that a wealthy Chinese mobile phone had reached an initial intention with UT's board of directors to replace SoftBank asThe company's largest shareholder. UT has not commented on the rumours. "We are delighted to have a partnership with the Beijing Economic and technological development zone and get investment in it, as well as Rammax and shahcapital," said Loux, CEO and chief executive officer of Pitt Blackmore. The cooperation with Beijing Economic and technological development zone conforms to UT's growth strategy, and UT's growth strategy conforms to the guidance of the Chinese State Council on promoting the integration of the three networks. This partnership will bring the financial benefits to UT, with a high strategic value, which will enable UT to gain a favorable position in the future. "It is understood that after the completion of the transaction, China Sarft former deputy chief engineer Du Baixuan will join the UT of the board." In addition, also Zhuang International deputy general manager Lee and Huangshi Capital Executive director Huangshao will also join the UT of the board. Lee and Huangshao will replace Allen Ranzmer and Jeff Clark, who will resign after the investment is completed. UT's Board of directors will be increased from 6 to 7 seats. It is reported that, in order to ensure the implementation of UT Tatsu in China's strategic objectives, Loux has been appointed as the UT Chief Executive officer and president. He will start his official post 3 months after the investment is completed (June 30, 2010). After Loux as CEO and CEO of the company, Blakemore will resign as CEO and CEO of the company. Besides, most of the senior executives, including the CFO, have changed. It is understood that due to the rapid decline of PHS business, UT Tatsu Kang is already looking for new growth points. As the most representative of the three-network integration business--IPTV has been developed by UT for many years, after the State Council issued a three-net integration policy, UT Tatsu Kang seems to find the opportunity to regenerate. It is reported that UT Starkon in the Board of Directors to add a seat to the state administration of SARFT former deputy chief engineer Du Baixuan, and into the three network integration business. Loux has served as the joint chief operating officer and general manager of China in the world's leading optoelectronic components company sourcephotonics. Prior to joining Sourcephotonics, he worked as CEO, chief operating officer and vice president of marketing and sales at Fiberxon. July 2007, Fei Bo Chong was mrvcommunications communications company mergers and acquisitions. Prior to joining the company in September 2001, Loux was a minister of business strategy development in the United States Business Group (Usbusinessnetworks) from March 2000 to May 2001. In addition, he also served as senior manager at China National Technology Import and Export Corporation from May 1988 to July 1998. Mr. Loux graduated from Huazhong University of Hust and was awarded electricityBachelor of Science degree in sub Engineering. In addition, he received a master's degree in Business administration from the University of Southern California.
This article is an English version of an article which is originally in the Chinese language on aliyun.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or
The content source of this page is from Internet, which doesn't represent Alibaba Cloud's opinion;
products and services mentioned on that page don't have any relationship with Alibaba Cloud. If the
content of the page makes you feel confusing, please write us an email, we will handle the problem
within 5 days after receiving your email.
If you find any instances of plagiarism from the community, please send an email to:
and provide relevant evidence. A staff member will contact you within 5 working days.