Telestone Technologies (NASDAQ:TSTC)

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Tuesday, November 15, 2011

On November 7, 2011, Telestone Technologies Corporation (the “Company”) entered into an agreement to acquire 100% of Sichuan Ruideng Telecom Corporation (the “Agreement”). Under the terms of the Agreement, the Company will pay consideration consisting of cash and stock with a total value of approximately $18,000,000. Sichuan Ruideng Telecom Corporation is a company engaged in telecom network construction and system-integration services. The Company believes that the acquisition will help the Company with its business expansion strategy in the southwestern China market.

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