According to an announcement on September 5, Luxembourg-based Skype and the Chinese company Tom Online have signed an agreement to form a joint venture, which will focus on developing and distributing a simplified Chinese version of Skype software and other features for wireless communications. Tom Online currently has 70 million wireless internet subscribers in China, making it a suitable partner for Skype to expand their business in that country. Although financial details of the deal were not disclosed, the two companies stated that Tom Online would take a 51% stake in the venture, with Skype taking the remaining 49%.