Bangkok--4 Apr--CS LoxInfo
CS LoxInfo announced it is acquiring 51% of AD Venture Co. Ltd., the owner of Shineedotcom, in a move to strengthen its online offerings with mobile data and content service.
Mr. Anant Kaewruamvongs, Managing Director of CS LoxInfo Plc (CSL) announced that CSL and Teleinfo Media Plc (TMC), a fully-owned subsidiary, plan to extend their leadership in online services with the acquisition of a 51% interest in AD Venture Co. Ltd., the owner of Shineedotcom Co. Ltd.
CSL and TMC are established leaders in Internet services, yellow pages publishing, and data and entertainment content. Shineedotcom is the leading provider of mobile infotainment content that includes music, video and digital content, horoscopes, and games.
“CS LoxInfo has set its sights on capturing the synergy between the complementary businesses of TMC and Shineedotcom to advance their portfolio as leaders of integrated online services,” said Anant.
Mr. Somchai Sinjananurux, Managing Director of TMC said, “This acquisition combines the strengths of TMC in Audiotex and IVR with the mobile content of Shinee.” In addition, TMC 1188 service can assist in mobile download and accelerate us to become a key player in the online business. Furthermore, TMC’s online strategy can unlock Hunsa.com value even further.
Investor Information
CS LoxInfo Plc acquired 28 million common shares in AD Venture Co. Ltd. at the total value of approximately 18 million baht from Shin Corporation Plc. AD Venture holds a 70% interest in Shineedotcom Co Ltd.
Company Information
CS LoxInfo Plc (“CSL”) listed on the Stock Exchange of Thailand on April 8, 2004. Formerly named CS Communications Co. Ltd., the company was established in 1994. CSL provides satellite broadcasting uplink and downlink services, and complete Internet access services including via satellite. In March 2003, CSL merged with Loxley Information Service Co. Ltd., and later invested in Teleinfo Media (TMC), publisher of Thailand YellowPages, and provider of other services. In 2005, CSL acquired further shares in TMC, bringing the total shareholding to 100%.
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