Asia Express - Mobile Communications
HTC to Purchase Abaxia for US$13.2 Mln
June 10, 2010
Taiwanese mobile phone maker HTC announced on June 7, 2010 that it is acquiring 100% stake in Abaxia for 11 million Euros (US$13.2 million; US$1=0.84 Euros), according to an Economic Daily News report on June 8. Abaxia, headquartered in Paris, is a mobile software developer for telecommunication network operators and mobile phone manufacturers. HTC said that the contract will be signed between HTC's French subsidiary and Abaxia, and HTC plans to close the deal at the end of June 2010.

Since HTC started to focus on own-brand business, the company bought San Francisco-based design house One &Co in December 2008 to strengthen its design capabilities. HTC has cooperated with Abaxia for years on developing software for HTC phones. With the acquisition of Abaxia, HTC expects to enhance its software development capabilities and accelerate the pace of innovation.