(Yicai Global) May 9 -- Shenzhen-based Invengo Information Technology Co. will acquire majority shares of a Dutch digital library management system provider through its wholly-owned subsidiary to achieve global integration for its main business.
Invengo's wholly-owned subsidiary Biiteca Cultural Technology Co. signed an agreement with OEP HoldCo 10 BV on May 7 to buy 80 percent of the Dutch company's shares for USD203 million, said the provider of radio frequency identification, RFID, technology, product and system solutions in a statement.
Biiteca was already holding 20 percent stake in the Dutch firm, which means the new deal will make OEP its wholly-owned subsidiary, said the statement.
The Dutch company and its subordinate companies mainly engage in digital library business that provides customers with library application and management systems as well as e-book-related solutions, which synergize with Biiteca's main business, it said.
The acquisition will provide new international market, customers and global business operation teams to the Chinese firm, it said, adding both parties will enhance their global influence and profitability after the acquisition.
Editor: Mevlut Katik