21Vianet to Acquire Dermot
(Sinocast Internet, Media & Online Services Beat (China) Via Acquire Media NewsEdge) SHANGHAI, August 12, SinoCast -- 21Vianet Group announces that the company and an affiliate have reached an agreement to take over entire equities in Dermot Holdings Limited and Dermot Entities held by DYXnet.
DYXnet was established in 1999 and is a VPN service provider in Greater China. DYXnet has spread Internet access services to over 700 cities in mainland China, Hong Kong, Taiwan, Vietnam and Singapore relying on Dermot Entities.
The acquisition will enable 21Vianet to use Dermot Entities' network and infrastructure to enhance its data transmission facilities in Greater China and provide VPN connection solutions, further consolidating its Internet infrastructure service provider status.
The deal is predicted to close in the third quarter 2014.
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