DD Post #7 Acquisition of Touche
In November 2010, CIMC acquired a digital signage solutions company, Touche Adaptive Systems Pty. Limited ("Touche").....Remember CHMD has a deal with the Government of China and the Unite Nations for 10,000 Signs......
In October 2010, we acquired 69% interests in China Integrated Media Corporation Limited ("CIMC"), a public company in Australia that operates in digital signage media and China's television media, having the rights to three TV channels on an IPTV platform. This acquisition will open up the television sector to the Group. In November 2010, CIMC acquired a digital signage solutions company, Touche Adaptive Systems Pty. Limited ("Touche") to utilize Touche's technology for other markets such as China and Malaysia. In conjunction with this acquisition, the Group reorganized its outdoor sign business by transferring our subsidiary company Premier Multimedia Sdn. Bhd. under CIMC thereby consolidating all the board business into the CIMC group. CIMC will then be able to develop and focus on the board business for the Group. We will also explore other markets in the Asia region for any synergistic business opportunities.
