Cloud-based application platforms provider China Digital TV Holding Co., Ltd. (NYSE: STV) said that Beijing Cyber Cloud Technology Co., Ltd., a subsidiary of China Digital TV, has entered a capital increase agreement with ShouTai JinXin (Beijing) Capital Management (“ShouTai JinXin”), a fund management company in China, for ShouTai JinXin to invest RMB33.0m in cash into Cyber Cloud.
Founded in 2004, China Digital TV enables television network operators to manage, extend and diversify content services across households and public areas in China. China Digital TV is the leading provider of cloud-based application platforms to Chinese cable operators, helping them to effectively bring mobile gaming apps and other entertainment options to household television sets, and extend cable programming outside the home to any mobile device.
ShouTai JinXin is a China based investment company, mainly concentrating its operation on equity investment in China. Its assets under management are approximately USD5bn.