BtoB to acquire majority stake in HiChina Web Solutions parent

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Hong Kong—B-to-b e-commerce company announced Monday that is has agreed to purchase 85% of the shares of China Civilink (Cayman), which operates in China as HiChina Web Solutions, for $79.06 million.

HiChina is a provider of Internet infrastructure services in China. With the deal, said it gains 200,000 customers, most of whom do not overlap with existing customers.

The deal is expected to close by the end of the year. HiChina, with more than 550 employees, will become a subsidiary of and retain its own brand name and operations.

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