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.
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