Beijing Philisense Technology (300287.SZ) announced on Wednesday evening that it had inked an agreement with Vnetoo Technology Limited (BVI) to take over 80 percent equity of Shenzhen Interworld Technology Development held by BVI for 320 million yuan.
Beijing Philisense Technology said in the announcement that it will pay for the deal with its self-owned capital. As BVI is a wholly owned foreign enterprise, the equity transfer is still subject to the approval of relevant business regulators. Founded in 2004, BVI is a leading online education technology platform and operation service provider in China.
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