The Chinese government’s regulatory committee approved the acquisition of Media.net by China’s Miteno group.
Media.net was acquired after the Turakhia brothers reached out to Chinese investors for their platform.
China imposes strict regulations on how foreign businesses operate in China, and China’s government ensures that it has technical insight of any such deals.
Media.net founder, Divyank Turakhia, appeared extremely satisfied with the closing of this almost billion dollar transaction ($900MM), as witnessed in the photos below.
Media.net sale is now complete.
According to the Miteno.com web site:
“Miteno specializes in IT infrastructure investments & operations and mobile Internet operations and services, providing customers with quality, efficient products and services. After years of rapid growth, it has achieved its strategic objectives in new-generation information technology fields such as IT infrastructure, the Internet of Things, mobile Internet, and big data.”
Congratulations to the Turakhia brothers, Divyank and Bhavin for this achievement, which has already been promoted by major print publications, such as Forbes.
