AOL IN $200 MILLION PACT WITH CHINESE PC MAKER

Published on .

(June 11, 2001) -- AOL Time Warner's America Online and Beijing-based PC manufacturer and Internet service provider Legend Holdings Limited announced the formation of a joint-venture company to develop consumer interactive services for the Chinese market.

Legend will have 51% equity in the company, and America Online will have 49%. The deal is worth $200 million, with each party contributing about half over time. In addition to making personal computers, Legend debuted its Internet-enabled computers in 1999 with China Telecom. It also operates a portal, fm365.com, and had 1.7 million interactive services users as of May. -- Adrienne Mand

Copyright June 2001, Crain Communications Inc.

In this article:
Most Popular