CO. TO ACQUIRE SAMSUNG DIST. IN CHINA

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CO. TO ACQUIRE SAMSUNG DIST. IN CHINA

 user 2006-01-05 at 10:38:00 am Views: 63
  • #13693

    Hartcourt to Acquire Samsung Printer Distributor GW Digital
    jan
    2006  – The Hartcourt Co. Inc. has signed a preliminary agreement to
    acquire GW Digital, a privately held Samsung printer distributor
    serving the needs of consumers and businesses in Eastern China,
    covering a region of six provinces and the city of Shanghai.
    Hartcourt
    is anticipating a closing date for the transaction in the middle of
    Feb. 2006. Following the inking of the deal, GW Digital will operate as
    a 51% owned, indirect subsidiary of Hartcourt.
    The all stock
    purchase price will be US$1.5 million, subject to customary closing
    adjustments. The purchase price represents approximately 0.6 times of
    2005 GW Digital’s net assets. Hartcourt anticipates the GW Digital
    acquisition will increase its fiscal 2006 (year ending May 31)
    operating income by US$300,000.