China Broadband to acquire AdNet China

New York—China Broadband, a provider of cable broadband services in China, has signed an agreement to acquire AdNet Media Technologies, a Beijing company that delivers multimedia advertising content to Internet cafés.

Financial terms of the deal, which involves a stock swap, were not disclosed.

With the deal China Broadband gains the ability to deliver geographically targeted online advertising in 29 Chinese provinces. The company projects initial service to more than 3,000 cafés during the first quarter of 2009, with plans to triple that by the end of the year.

—Christopher Hosford