Hong Kong internet firm Outblaze plans to sharpen its focus on the online community and Web 2.0 market after selling its e-mail and collaboration business to global software and services giant International Business Machines Corp.
Terms were not disclosed.
Privately held Outblaze will see about 30 per cent of its business assets acquired by IBM, according to Ibrahim El-Mouelhy, the spokesman for the Cyberport-based company.
Entrepreneur Yat Siu (right), the chief executive at Outblaze, founded the company in May 1998 and built it into one of the world's first and largest hosted messaging providers, delivering services to more than 75 million active users across 400,000 internet domains in 22 languages.
Outblaze operates these online platforms to provide private label e-mail, collaboration and social media services for other service providers, telecommunications operators, corporations, academic institutions, media and publishing companies.
Following the IBM deal, the closing date of which is yet to be announced, Outblaze, will push for more projects in the online community market, including games, chats, message boards and blogs. Its Web 2.0 initiatives, meanwhile, include social networking in the education and business sectors.
Outblaze has a strategic partnership with Turner Entertainment Holdings Asia-Pacific. Their joint venture, Turnout Ventures, develops highly interactive community networks customised around Cartoon Network's extensive library of established brands and characters.