Sells Their News Portal For $11.7 Million

Posted Jul 16, 2013 Inc. is a public company based in Hong Kong that owns the news portal  According to TheNextWeb, Inc. has sold the website and assets to Global Broadcasting Media Group for HK$90.8 million (around US$11.7 million). Inc. is selling the website because they believe it ?represents a good opportunity to dispose of [this] non-profitable business.? Inc. will use the funds for other web content, services, and advertising businesses. Inc. was one of the first Chinese technology companies to list on the U.S. and Hong Kong stock exchanges when joining the NASDAQ in July 2009.  The company traded as CDC Software Corp, but was delisted in December 2011 due to public interest concerns and due to a bankruptcy protection filing. was founded in 1997 and they sell online games, mobile apps, and enterprise software.  The deal with Global Broadcasting Media Group is expected to close at the end of July.