(Yicai Global) June 12 -- Chinese online video broadcaster Starcor Information Technology will set up a joint venture in western China's Xinjiang Uyghur Autonomous Region to provide video content and big data to the region and neighboring Central Asian countries.
Chengdu-based Starcor will invest CNY 2.55 million (USD398 million) to gain a 51 percent stake in the venture, while two individual investors Song Fusheng and Cui Kai will jointly put in 2.45 million, the video firm's parent Hangzhou CNCR-IT said in a statement.
The new venture will promote big data and smart technologies in Central Asian markets, the statement stated, without disclosing more details.
Starcor, founded in 2009, provides customizable over-the-top streaming services to operators in provincial and national levels.
Editor: Emmi Laine