Taiwanese telecom operator Taiwan Mobile announced on October 8 that it has signed a purchase agreement with China-based digital mobile content developer Hurray! Times Communications for US$53 million at most in cash.

According to a press release by Taiwan Mobile, the deal is still pending approval by regulators of China and Taiwan. Through the acquisition, Taiwan Mobile will take over Hurray! Times' R&D personnel for digital content and value-added services. The deal is projected to help Taiwan Mobile speed up the R&D process of its mobile content products.