has executed a Letter of Intent to acquire China IPTV Industry Park Holdings Limited, an IPTV industry developer, advisor and investor in China. MYST agreed to acquire CIIP for approximately $1 million in cash and preferred stock purchase warrants.
The deal combines two leading providers of IPTV contents as well as film libraries and the leading developer, advisor and investor in the IPTV industry. MYST said the acquisition broadens its product portfolio and addressable market. CIIP's business line includes providing consulting service to IPTV operators in China, as well as investing in copyrights of TV programming and films. In addition, CIIP currently holds 75.5% of total outstanding common stocks of Vizario, a public, developmental-stage company incorporated in Nevada, USA. CIIP was founded in 2003 and its corporate headquarters are in Hong Kong.