NEW YORK, Dec 6 (Reuters) - AsiaInfo Holdings Inc, which provides IT services to the Chinese telecoms industry, agreed on Sunday to buy Linkage Technologies International Holdings Ltd in a cash and stock deal worth about $732.7 million.
Under the terms of the deal, Linkage shareholders will receive $60 million in cash and about 26.8 million AsiaInfo shares. AsiaInfo's shares closed up 6 cents at $25.10 on Nasdaq on Friday.
Legacy shareholders of Linkage, which is based in Nanjing, China, will own about 35.8 percent of the merged company, to be called AsiaInfo-Linkage Inc. The transaction is expected to add to non-GAAP earnings per share in 2010.
The transaction is expected to close by the end of the first quarter or early in the second quarter of 2010.
(For more M&A news and our DealZone blog, go to http://www.reuters.com/deals)
(Editing by Leslie Adler) Keywords: LINKAGE ASIAINFO/ (paritosh.bansal@thomsonreuters.com +1 646 223 6113; Reuters Messaging: paritosh.bansal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Under the terms of the deal, Linkage shareholders will receive $60 million in cash and about 26.8 million AsiaInfo shares. AsiaInfo's shares closed up 6 cents at $25.10 on Nasdaq on Friday.
Legacy shareholders of Linkage, which is based in Nanjing, China, will own about 35.8 percent of the merged company, to be called AsiaInfo-Linkage Inc. The transaction is expected to add to non-GAAP earnings per share in 2010.
The transaction is expected to close by the end of the first quarter or early in the second quarter of 2010.
(For more M&A news and our DealZone blog, go to http://www.reuters.com/deals)
(Editing by Leslie Adler) Keywords: LINKAGE ASIAINFO/ (paritosh.bansal@thomsonreuters.com +1 646 223 6113; Reuters Messaging: paritosh.bansal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.