CDC invests in BBMF |
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Published
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Thu, 25 Jan 2007 20:18
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NEW YORK (AFX) - Beijing-based software maker CDC Corp. said Thursday its CDC Mobile subsidiary will invest $20 million in third-generation wireless technology company BBMF Group Inc.CDC will invest in convertible bonds issued by Tokyo-based BBMF Group. The deal is the first targeted investment through CDC Mobile's $100 million program to partner with third generation, or 3G, wireless content providers.The two companies will jointly work in 3G markets in Japan and China. CDC Mobile will have a first right of refusal to distribute BBMF's 3G products and services in China.CDC shares rose 13 cents to $10.23 in afternoon trading on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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