IBM buys stake in China's Bright Oceans

SHANGHAI - IBM's China unit has bought a 1 percent strategic stake in Bright Oceans Inter-Telecom Corp, the Chinese maker of computer parts and components said on Thursday.

 
IBM bought the stake from Bright Oceans' parent for 50 million yuan ($7.37 million), according to a statement to the Shanghai Stock Exchange.

The share sale would boost Bright Oceans' ability to develop products and promote its offerings in international markets, the company said.
(Source:chinadaily)