Telecom service provider Dr. Peng (SH:600804) planned to fully acquire Yihexun Technology, a wireless network company, with 14 million yuan ($2.29 million) in a bid to accelerate the development of its mobile Internet business (report in Chinese).

Dr. Peng concluded the acquisition at a high premium rate, because the registered capital of Yihexun is only 3.55 million yuan. It is the innovative business model and impressive team of Yihexun that attracted Dr. Peng, citing Ren Chunxiao, board secretary of the listed company.

According to Dr. Peng, the innovation of Yihexun is based on its wireless sensor network, which can position the mobile phones via Wi-Fi electromagnetic wave, like the case with base stations and mobile phones. By analyzing the commonly visited venues of customers, merchants can get a deeper understanding of the preferences of them so as to compile more accurate marketing strategies, introduced Wu Shaoyan, vice president of the company.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.