Australian telecom operator Telstra has spent AU$302 million (US$198.6 million; US$1=AU$1.5) for the controlling stakes in two Chinese telecom service providers on February 11, Dow Jones Newswire reported. The two companies are mobile content provider China M and technical service provider Sharp Point, which has been providing technology support for China Mobile's online music platform. The acquisitions are expected to help Telstra reach its goal for generating AU$1 billion (US$657.2 million) revenue in China by 2013. Telstra has previously purchased several Chinese online companies, spanning the areas of automobile, consumer electronics, and real estate.