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Chinasoft International Limited (“Chinasoft” or “the Group”) (SEHK:354), a leading solutions and IT outsourcing service provider announced to enter into share purchase agreement with MMIM Technologies, Inc (“MMIM”), a Beijing-based service provider engaging in the mobile internet messaging, community Social Network Service (SNS), add-on multimedia applications and cross-network technologies,[link widoczny dla zalogowanych], pursuant to which the Group conditionally agreed to acquire 100% equity interest of MMIM.

MMIM is one of the pioneer companies in China that possesesses leading mobile multimedia communication and information service technology and provides mobile internet products and services. Its core product, Personalized Information Communication Assistant (”PICA”) is the first integrated instant communication software in the Mainland for mobile internet networks and users. PICA is also the biggest mobile internet community in China. In addition to the provision of mobile internet products and services for individual users, its service scope also covers mobile business such as information service, enterprise social network services and the planning of terminal service and community network service, etc. MMIM is one of the major software suppliers of mobile data services for the leading Chinese mobile network operators including China Mobile.

Dr Henry Chen, Managing Director of Chinasoft said, “IT business model is changing due to the evolution of information technologies like cloud computing, Internet of Things and converged communication. The demand and market size of mobile internet in China is growing rapidly. The acquisition of MMIM provides the Group with a good entry point to the mobile internet sector and will speed up the business model transformation process for the Group. With the profit guarantee as stated in the share purchase agreement,[link widoczny dla zalogowanych], we believe the acquisition will enhance the Group’s profitability and increase net profit levels. ”

Mr Liang Hui,[link widoczny dla zalogowanych], the Chief Executive Officer of MMIM commented on this acquisition: “Chinasoft is a renowned software enterprise in China with strong capabilities in the solution and IT outsourcing sectors. Leveraging its resources and competitive edge,[link widoczny dla zalogowanych], combined with our core skills and technology know-how in the field of mobile internet,[link widoczny dla zalogowanych], we will work hand in hand to explore the emerging opportunities in the mobile internet and Internet of Things sectors. We also have a comprehensive development plan for this.”