PacificNet completes acquisition of Octavian
PacificNet, a leading provider of gaming, customer relationship management and e-commerce solutions on the mainland, has completed the acquisition of British gaming systems supplier Octavian International, creating a combined operation with projected annual revenue of US$116 million this year.
'We expect the effect of combining Octavian's strong global brand name and worldwide gaming distribution expertise with PacificNet's low-cost development resources in China and local Asian gaming expertise to be considerable,' said Tony Tong, chief executive at Nasdaq-listed PacificNet.
The company issued 2,330,000 restricted shares, representing about 19.5 per cent of outstanding shares, which will be held in an escrow account and released in accordance with the payment and earn-out schedule in its agreement with Octavian. Bien Perez
British company unveils chip design for 3G mobile services
A locally developed reference design for low-cost 3G base stations for the mainland launch of TD-SCDMA cellular services was unveiled last week by British semiconductor company picoChip.
The chips for the 3G access points, called femtocells, are optimised by picoChip for deployment inside buildings to enhance cellular coverage, an innovation that could help push forward the country's plans to launch TD-SCDMA services during the Beijing Olympic Games, according to Yang Hua, secretary-general of the TD-SCDMA Industry Alliance. Bien Perez
Anbang Insurance adopts Ilog automating technology
Anbang Insurance, a leading mainland property and casualty insurance provider, has adopted key technology from French-American business software company Ilog, to be used as the basis for a new underwriting system to automate its personal and commercial lines of business.
With Ilog's JRules application, Anbang has automated its entire underwriting process - handling more than 10,000 policies per day, while ensuring consistent adherence to its underwriting guidelines. The financial terms of the deal were not given.
'We felt that with Ilog we were not only getting best-in-breed Business Rule Management System technology, but also a strategic partner,' said Hailan Yu, vice-general manager for information technology at Beijing-based Anbang. Bien Perez
Altai, Bridgesafe to develop mine safety monitoring systems
Altai Technologies, a Hong Kong-based supplier of wireless broadband base stations, has formed a partnership with mainland surveillance software provider Bridgesafe to develop advanced safety monitoring systems for the country's mining industry.
Their first project involves the development of embedded wireless sensors and communications devices for the helmets of coal miners in the eastern province of Shangdong.
The embedded sensors will provide data on the presence of hazardous gases and track the locations of individual miners, said Ken Zhang, operations director at Bridgesafe. Bien Perez