HotApps
US company to buy SeD’s IM subsidiary for US$700mil
US-based Fragmented Industry Exchange Inc (FIE) intends to acquire a wholly-owned instant messaging (IM) software subsidiary of Singapore eDevelopment Ltd (SeD) for US$700 million in shares and bonds, SeD has announced.
Singapore eDevelopment buys IM and social media developer HotApps
Singapore eDevelopment Ltd (SeD) announced it is buying software developer HotApps International Pte Ltd, which owns applications for instant messaging (IM), social media and e-commerce platforms. It has also entered into a Memorandum of Understanding (MoU) to acquire telecom hardware and software developer CloudTel Pte Ltd.
