BEIJING and SANTA CLARA, Calif., July 1 /PRNewswire-Asia/ -- AsiaInfo Holdings, Inc. (Nasdaq: ASIA) ("AsiaInfo"), a leading provider of telecom software solutions and IT security products and services in China, today announced that it has closed its previously announced agreement to merge with Linkage Technologies International Holdings Limited ("Linkage") and form AsiaInfo-Linkage, Inc. ("AsiaInfo-Linkage").
AsiaInfo's President and Chief Executive Officer, Steve Zhang, commented, "For over ten years, both AsiaInfo and Linkage have evolved into influential market players in the telecom IT software and solutions vertical, developing best-of-class products and cultivating strong relationships with the three telecom carriers in China. As a result of the completion of this transaction, AsiaInfo-Linkage will boast an expanded service offering, stronger R&D capacity and complementary customer bases for cross-selling opportunities. As a leading player in the China telecommunications industry, we will continue to provide high-quality solutions and services to our clients, while capitalizing on new revenue drivers both domestically and abroad."
AsiaInfo and Linkage agreed to merge on December 6, 2009 and recently agreed to a target closing date of July 1, 2010. Under the terms of the agreement, Linkage shareholders received US$60 million in cash and approximately 26.8 million AsiaInfo shares.
More information regarding the closing is available in AsiaInfo's current report on Form 8-K, filed today with the United States Securities and Exchange Commission.
About AsiaInfo Holdings, Inc.
AsiaInfo Holdings, Inc. (NASDAQ: ASIA) is a leading provider of
high-quality telecom software solutions and IT security products and services to some of China's largest enterprises as well as many small and medium sized companies in China. An established leader in the Chinese telecommunications industry, AsiaInfo became a prominent supplier of IT security products and services in China with the acquisition of Lenovo's non-telecom related IT services business in 2004.
Organized as a Delaware corporation, AsiaInfo began operations in the United States in 1993. The Company moved major operations to China in 1995 and played a significant role in the construction of the national backbones and provincial access networks for China's major national telecom carriers, including China Telecom, China Mobile, China Unicom and China Netcom. Since 1998, AsiaInfo has continued diversifying its product offerings and is now a major provider of telecom software solutions in China.
For more information about AsiaInfo, please visit http://www.asiainfo.com .
About Linkage Technologies International Holdings Limited
Linkage Technologies International, based in Nanjing, China, was founded in 1997 and is a leading provider of software solutions and IT services for the telecom industry in China. The company develops and implements Business Support Systems ("BSS"), Operation Support Systems ("OSS") and Business Intelligence Systems ("BI") for all three operators in China.
For more information about Linkage, please visit http://www.lianchuang.com .
Cautionary Note Regarding Forward-Looking Statements
The information contained in this press release is as of July 1, 2010. The Company assumes no obligation to update any forward-looking statements contained in this press release as a result of new information or future events or developments.
This press release contains forward-looking information about future performance and anticipated outcomes of the business combination of AsiaInfo and Linkage. Among the factors that could cause actual results to differ materially are the following: the ability to successfully integrate the products, services and employees of AsiaInfo and Linkage; the ability to successfully develop and market new products and services, and the uncertainty of whether the Company's products and services will achieve market acceptance or result in revenue growth; and the continued performance or market growth of the combined company's products and services. A further list and description of these risks, uncertainties, and other matters can be found in AsiaInfo's Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and in the Company's other filings from time to time with the United States Securities and Exchange Commission, available at www.sec.gov.
