Tian Ge to acquire 34.47% stake in Hangzhou Xi He Technology for a total consideration of RMB24 million
HONG KONG and HANGZHOU, China, March 3, 2015 /PRNewswire/ — Tian Ge Interactive Holdings Limited (Tian Ge, 1980.HK), the largest "many-to-many" live social communities platform in China, announced that the Company has agreed to invest approximately RMB24 million (~USD$3.8 million) in exchange for approximately 34.47% equity interest in Hangzhou Xi He Technology Co., Ltd. ("Xi He"), a market leader in providing health management software to hospitals and physical check-up clinics in China, on a fully-diluted basis.
"We are excited to collaborate with Xi He on co-developing a new mobile health management platform to expand to the post-physical examination health management market in China," said Mr. Mike Fu, Chairman, Executive Director and Chief Executive Officer of Tian Ge.
Mr. Fu added, "Xi He is leading cloud-based health management system provider and has an established network of hospitals and physical examination centers, which services health oriented users and doctors nationwide. I believe that by leveraging Tian Ge’s operating and technological expertise, ecosystem, virtual economies and capital strength, and Xi He’s access healthcare users and data analytics, we are confident in our capability towards developing the next generation emerging healthcare mobile applications."
About Tian Ge
Tian Ge (1980.HK) is one of the largest live social online video community platforms in China. The Company was founded in Hangzhou, China in 2008 and went public on the main board of the stock exchange of Hong Kong in July 2014. It currently operate eight "many-to-many" live social video communities on both mobile and PC, including 9158 and Sina Show, the two largest communities; and one "one-to-many" community, Sina Showcase.
Our communities offer diverse selection of user-generated content in the live social online video community industry. Through our "many-to-many" ecosystem where multiple users can simultaneously stream to other viewers in the same real-time video room, Tian Ge enables users to interact, socialize, share interest, send virtual items & gifts, and encourages our users to showcase their talents or knowledge for open and public exposure. Recently, we expanded our ecosystem to the online-to-offline (O2O) karaoke, live social mobile & PC games and emerging healthcare mobile application.
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About Xi He
Hangzhou Xi He Technology Co., Ltd. is one of the leading health management software system providers in China. It serves over 300 institutional clients, such as hospitals, professional physical examination institutions and third party health management institutions.
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