Subaye, Inc. Announces Acquisition of Aixi.net Assets
Poster: SySAdmin
Posted on November 16, 2010 at 9:07:01 AM
Subaye, Inc. Announces Acquisition of Aixi.net Assets
42,731 Aixi SMEs are now Potential Customers of the Bundled Cloud Product
2,017 Aixi SMEs are Paying for Bundled Cloud Product
Execution Plan for Developing the Aixi SME Customer List Completed Today
GUANGZHOU CITY, China, Nov. 16, 2010 /PRNewswire-Asia-FirstCall/ -- Subaye, Inc. (Nasdaq: SBAY) ("Subaye" or the "Company"), a leading online business services provider in China engaged in enterprise cloud computing, announced the acquisition of a web property, http://www.aixi.net and an associated customer list, as well as the finalizing of an execution plan for the development of the customer list, which was completed on November 16, 2010.
Subaye will attempt to sell its bundled cloud product to all of the small and medium sized businesses ("SMEs") who were users of http://www.aixi.net ("Aixi SMEs"). Through November 15, 2010, Subaye has converted 2,017 of the Aixi SMEs. Other important details regarding the acquisition are as follows:
-- The Execution Plan was designed by management with the intent of
developing at least 8,546 of the Aixi SMEs as of June 30, 2011, and at
least 17,092 of the Aixi SMEs, respectively, into paying bundled cloud
product customers as of December 31, 2011.
-- All Subaye customers will pay the same fee for use of the bundled cloud
product.
-- Aixi SMEs are from mostly from Guangdong, approximately 20% of the
customers are from outside Guangdong, in Southern China
-- Services previously offered at http://www.aixi.net will now be offered for free
for all customers of http://www.subaye.com and former customers of http://www.aixi.net
About Subaye, Inc.
Subaye, Inc. is a leading online business services provider in China engaged in enterprise cloud computing. Subaye's online business services include business to consumer (B2C) ecommerce, emanagment solutions, emarketing solutions, eservice solutions and video search engine optimization. The Company previously conducted a trade services and an entertainment media business. For further information on Subaye, Inc, please visit http://www.subaye.net.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Subaye, Inc.'s industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Subaye, Inc.'s operations are conducted in the People's Republic of China ("PRC") and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
For more information, please contact:
Company:
James Crane
Chief Financial Officer
P.R.C. Mobile: +86-186-2136-3580
U.S. Mobile: +1-617-699-6325
Investor Relations:
Ted Haberfield
HC International, Inc.
Tel: +1-760-755-2716 (US)
Email: thaberfield@hcinternational.net
Web: http://www.hcinternational.net
SOURCE Subaye, Inc.
Subaye, Inc.
CONTACT: Company -- James Crane, Chief Financial Officer, +86-186-2136-3580 or +1-617-699-6325; or Investor Relations -- Ted Haberfield of HC International, Inc., +1-760-755-2716 (US), or thaberfield@hcinternational.net
Web Site: http://www.subaye.com
42,731 Aixi SMEs are now Potential Customers of the Bundled Cloud Product
2,017 Aixi SMEs are Paying for Bundled Cloud Product
Execution Plan for Developing the Aixi SME Customer List Completed Today
GUANGZHOU CITY, China, Nov. 16, 2010 /PRNewswire-Asia-FirstCall/ -- Subaye, Inc. (Nasdaq: SBAY) ("Subaye" or the "Company"), a leading online business services provider in China engaged in enterprise cloud computing, announced the acquisition of a web property, http://www.aixi.net and an associated customer list, as well as the finalizing of an execution plan for the development of the customer list, which was completed on November 16, 2010.
Subaye will attempt to sell its bundled cloud product to all of the small and medium sized businesses ("SMEs") who were users of http://www.aixi.net ("Aixi SMEs"). Through November 15, 2010, Subaye has converted 2,017 of the Aixi SMEs. Other important details regarding the acquisition are as follows:
-- The Execution Plan was designed by management with the intent of
developing at least 8,546 of the Aixi SMEs as of June 30, 2011, and at
least 17,092 of the Aixi SMEs, respectively, into paying bundled cloud
product customers as of December 31, 2011.
-- All Subaye customers will pay the same fee for use of the bundled cloud
product.
-- Aixi SMEs are from mostly from Guangdong, approximately 20% of the
customers are from outside Guangdong, in Southern China
-- Services previously offered at http://www.aixi.net will now be offered for free
for all customers of http://www.subaye.com and former customers of http://www.aixi.net
About Subaye, Inc.
Subaye, Inc. is a leading online business services provider in China engaged in enterprise cloud computing. Subaye's online business services include business to consumer (B2C) ecommerce, emanagment solutions, emarketing solutions, eservice solutions and video search engine optimization. The Company previously conducted a trade services and an entertainment media business. For further information on Subaye, Inc, please visit http://www.subaye.net.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Subaye, Inc.'s industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Subaye, Inc.'s operations are conducted in the People's Republic of China ("PRC") and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
For more information, please contact:
Company:
James Crane
Chief Financial Officer
P.R.C. Mobile: +86-186-2136-3580
U.S. Mobile: +1-617-699-6325
Investor Relations:
Ted Haberfield
HC International, Inc.
Tel: +1-760-755-2716 (US)
Email: thaberfield@hcinternational.net
Web: http://www.hcinternational.net
SOURCE Subaye, Inc.
Subaye, Inc.
CONTACT: Company -- James Crane, Chief Financial Officer, +86-186-2136-3580 or +1-617-699-6325; or Investor Relations -- Ted Haberfield of HC International, Inc., +1-760-755-2716 (US), or thaberfield@hcinternational.net
Web Site: http://www.subaye.com