IDGVC Partners and Infiniti Capital Agree to Make $20 Million Investment in China TechFaith's One (CNTF) Net Entertainment Limited
More News related to CNTF
- China TechFaith (CNTF) Posts Q3 Break-Even EPS, Better Y/Y
- TechFaith Reports Third Quarter 2009 Financial Results
- Trading Radar for 11/23: Hewlett-Packard (HPQ), Tyson Foods (TSN), Campbell Soup (CPB), BJ Services (BJS) Report
- 2010 IR Global Rankings: Invitation for Investors and Analysts Vote for Companies with the Best IR Program and for the Best IR Officer
- TechFaith Schedules 3Q 2009 Financial Results Conference Call
More News related to Corporate News
- Quicksilver Resources (KWK) Granted Motion for Partial Summary by Texas in BreitBurn (BBEP) Lawsuit
- American International Group (AIG) Implementing Benmosche's Compensation Agreement
- Sun American (SAMB) Receives Listing Rule 5450 Notification from NASDAQ
- Solutia (SOA) To Discontinue Manufacturing at its Plant in Cologne, Germany
- General Dynamics (GD) Business Unit Awarded $2.2B U.S. Army SAC Contract for 724 LAV's
China Techfaith Wireless Communication Technology Limited (NASDAQ: CNTF) announced that a leading venture capital firm, IDGVC Partners, and Hong Kong-based Infiniti Capital Limited have agreed to make a total of US$20 million investment in One Net Entertainment Limited through its parent company, Leo Technology Limited, a wholly-owned subsidiary of TechFaith. One Net Entertainment focuses on the development and operation of wireless gaming applications. IDGVC's US$10 million investment will be in the form of a convertible note convertible into ordinary shares of Leo Technology or TechFaith at the option of the note holder, and Infiniti Capital's US$10 million investment will be in the form of common equity. The transaction is subject to certain closing conditions.
Related Categories
Corporate NewsStocks Mentioned
-0.21Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
