China.com Corp. (Nasdaq: CHINA) gained 8 1/64 to 63 17/64 Thursday after the Asian Internet company said it signed a definitive agreement for a $20 million stock swap with Japan’s Softbank. The companies also set up a joint venture to provide consulting services to Internet companies that are seeking to expand in Asia.
The company also said it will acquire Castnet, a high-tech software developer based in mainland China, and that it bought a 35 percent stake in Stame.com, a virtual community and game world. The acquisitions will “further enhance China.com’s growing e-commerce offerings,” as well as increasing Internet use in China, the company said.
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