China Voice Holding Corp. (CHVC)-a provider of Voice over Internet Protocol (VoIP), Office Automation and Wireless solutions for government, businesses and consumers in the People's Republic of China and the United States-has closed the acquisition of DTNet Technologies in a transaction valued at two million dollars structured in cash, a note payable, and one million shares of common stock with an additional one million performance based shares under an earn out agreement.
From over nine years DTNet Technologies has delivered quality broadband, VoIP and wireless products to Cable and Telco Service Provider customers worldwide. DTNet's products include cable modems, DSL modems, Powerline and Homeplug network adapters, WiFi and cellular wireless hardware, Multimedia Terminal Adapters (MTA) for VoIP services, and other customer premise equipment. The Company also offers a broad range of Enhanced Services such as private branded VoIP and Satellite Broadband services.
Hin Hiong Khoo, chairman of CHVC, said, "DTNet Technologies is a building block to support our U.S. operational infrastructure. The Company will provide the vehicle in the U.S. to enable CHVC to take advantage of the many opportunities it has in China. While DTNet Tech's primary business is as a value added distributor and manufacturer of advanced broadband products and services, it is also a fulfillment and Supply Chain Solutions Provider and these services will be an important function to our Chinese subsidiaries and Asian partners."
