(Yicai Global) May 30 -- Internet conglomerate Tencent Holdings signed a framework agreement with a unit of Shijiazhuang Changshan Beiming Technology, a software developer, through its cloud computing subsidiary to acquire a stake in a sign that it will further focus on artificial intelligence and cloud services.
The company signed a deal with Tencent Cloud about capital cooperation and the transfer of some equity, which will involve no change in the controlling shareholding of the firm, said Changshan Beiming in a statement yesterday.
Changshan Beiming has already suspended the trading of its shares in the Shenzhen Stock Exchange, which will last for no more than five trading days.
Tencent plans to introduce to an online dispute resolution, or ODR, platform developed by Changshan Beiming's subordinate company the cloud service, AI, video communication, and WeChat client channel, among others, said the statement.
Beiming Software, a wholly-owned subsidiary of Changshan Beiming, runs the ODR Platform which is dedicated to the mediation and arbitration of various social contradictions and disputes.
Tencent also made a USD199 million investment this week for a stake in an affiliate of DHC Software, a leading Chinese software system and information technology solution provider, to introduce its cloud service, big data, Internet of Things and other technologies to the applications developed by the target firm for its clients.
Editor: Mevlut Katik