BlueFocus Communications Group, a major Chinese advertisement firm, has announced its investment through a wholly owned subsidiary in a 25% stake in Beijing Xilehang Technology, the exclusive Wi-Fi internet access service provider for HNA Group. The stake went for 200 million yuan (US$32.2 million), according to Sina’s tech news portal. Xilehang has been offering internet service through its proprietary Wi-Fi system, which has earned HK STC (Hong Kong Standard and Testing Centre) certification, the first for such a Chinese system.
Brand management company BlueFocus Communication Group will acquire two major mobile advertising companies Domob Limited and Madhouse Inc. The report revealed that BlueFocus will acquire a 100% stake in Domob Limited and a 95% stake in Domob Network Technology for USD289 million; and the company will acquire a 51% stake in Madhouse Inc. for USD61.2 million. At the same time, BlueFocus will invest an additional USD10 million in Madhouse and they will hold a 54.77% stake in the latter on the completion of the investment.