Monday, September 28, 2009

Synnex Sells Interest In Chinese Firm

Fremont-based SYNNEX, a provider of business process outsourcing, said today that it is in a definitive agreement to sell its controlling interest in Chinese firm, HiChina Web Solutions (China Civilink), to Alibaba. HiChina Web Solutions provides domain name registration, web hosting, and design services. SYNNEX said the deal is worth $60M. The company said the sale came as the firm looks to focus on its core competencies and service offerings.SYNNEX owned 79 percent ownership in HiChina.