IBM Acquires Stake In Changhong Electric

January 20 2009No Commented

Categorized Under: Video

According to a company filing on the Shanghai Stock Exchange, IBM has acquired stake in Changhong Electric worth $15.8 million.  Changhong is China’s largest TV production company.  The investment was made through IBM’s Global Services China unit.  Through the investment, IBM acquired 1.56% stake in Sichuan Changhong Electric from their parent company, Changhong Group.  Changhong transferred 29.76 million shares to IBM based on a stock value of 3.64 yuan (U.S. $0.53) per share.

Changhong also manufactures air conditioners, MP3 players, DVD players, batteries, packaging materials, and mold processors.  Changhong is an IBM customer through the use of the American company’s Product Innovation Management model.

[via PC World]

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