Chinadotcom Corp. announced this week new partnership agreements with China-based Internet companies.
Chinadotcom (CHINA) will acquire 100 percent of CASTnet, a high-tech software developer providing Internet and intranet solutions. Also, the company has acquired a 35 percent stake in Stame.com, a virtual community and game portal in China.
“We recognize the power of the Internet in bringing great benefits to China’s economy,” said Zhou Shun Ao, chief China officer of Chinadotcom. “The success of this will certainly depend on the ability to build Web sites, distribute content over trusted portals, and develop e-business strategies to facilitate the e-commerce boom in China.”
Edward Hsu, chief technology officer of Chinadotcom, said that the company now employs a staff of 350 in China. Hsu expects that with the new acquisitions, the company will create more opportunities for Internet and e-commerce development in China.
CASTnet offers services including Web site registry, Web site creation and
management, as well as construction and design for Web sites.
The investment in Stame.com will be made by Chinadotcom’s online advertising arm,
24/7 Media Asia.
Stame.com features a virtual dog called “Stammer” — an agent to assist Netizens using
its services called “Guigu”. It also hosts various stores, recreation areas, chat rooms,
online games and instant messaging services.
Stame.com said that the company has obtained over 140,000 registered users since
its launch in November 1999.
In another release, Chinadotcom’s wholly-owned subsidiary Web Connection, an
Internet solution integrator, announced Thursday its acquisition of WayX, a
Beijing-based Web solutions company.
WayX’s services include Chinamirror.com — which provides localization service to
non-Chinese sites for overseas businesses entering the China market. Besides
providing Webmaster training course, the company is authorized to set up, administer
and host Chinese domain names — sites ending in “.cn” — by the PRC Government.