With all the high profile Chinese reverse mergers in the last year (OLAB CHNR) nearly forgotten by the market is the expected closing of the merger between HSW Intl (HowStuffWorks.com) and Intac Intl INTN on Monday Oct 1.
First announced last year the merger may be noteworthy for a number of reasons. First Jim Arnold CEO of HSW was involved in building internet giant WebMD. According to a Marketwatch article last year the new company is being set up as a 'investment vehicle' for Asian (read Chinese) acquisitons.
In an article last spring in The Deal Arnold likened his vision for the new company to a (chinese) Wikipedia---the online encyclopedia and search company ---which was rumored earlier this year to be considering an ipo of its own.
Last spring the company raised $75m to launch an online video platform which no doubt will play some part in the new company. (see below)
Finally the new company's biggest backer is legendary investor Carl Icahn--whose involvement may spark speculation about the size and scope of this new company's plans in China.
The stock may move in expectation of an announcement on Monday and further outline of their plans.
INTAC International and HowStuffWorks Announce Partnership to Form New Company Focusing on China's Internet Market
New Company to Create Interactive Web Site for Information-Seeking Consumers in China Financial Investors - Including Carl Icahn - Invest $22.5 Million into New Venture
HSW International will combine HowStuffWorks' dynamic technological platform, Internet expertise and expansive digital content resources with INTAC's local market knowledge and relationships in the wireless, education and training sectors to create an interactive media and service platform for Chinese Internet users. This platform will also provide a contextual and rich environment for brands to effectively advertise to the Chinese
Through the alliance, HowStuffWorks has exclusive digital publishing rights to the vast PIL product library of over 10,000 books and one million images, as well as future works, access to over 350 writers and editors and the leading consumer expert review resources Consumer Guide® and Mobil Travel Guide®. These capabilities will now be localized and made accessible to Chinese consumers. Additionally, MobilTravelGuide.com will be an ex
The partnership positions HSW International as a leading global explanation provider, meeting the significant demand for providing information to the large untapped community in need of content, and helps Chinese Web users by establishing a trusted and robust resource for evaluating and rating consumer products and services. In the same way that HSW International will empower Chinese Web users with trusted information to either be bet
'Many of the same investors in the new round were also involved in a $50 million deal in January that funded the merger of HowStuffWorks' international business with publicly traded Chinese educational software publisher Intac International Inc. of Hong Kong. HowStuffWorks remains the majority owner of the international unit, although it is a separate company.
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