Toronto, Canada - Orbit E-Commerce, a developer of IPTV services for the Chinese market, said on Thursday that it will acquire NexTube Broadcasting.

Financial terms of the deal were not disclosed.

Toronto-based NexTube recently entered into a $5 million private placement with D&D Securities, proceeds from which will be used to roll out an IPTV network to universities in China, beginning with Hangzhou University.

The installation will be completed by a joint venture between NexTube and Hangzhou Zheng Yuan Software Technology Ltd., and marketed to HZST's current subscriber base using smart cards at the universities targeted in China.

Related Links:
http://snipurl.com/3rj7l

http://www.orbitecommerce.com

http://www.hzsun.com