Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said.
Dahua, China's second-largest surveillance equipment maker, is among Chinese tech firms that Washington last year placed on a blacklist of companies it said helped Beijing monitor and detain Uighurs and other Muslim minorities. Those blacklisted cannot buy U.S. technology without U.S. government approval.E-commerce leader Alibaba and top telecommunications group China Mobile plan to jointly invest in Shenzhen-listed Dahua - which has a market capitalisation of US$10.
The agreement would give China Mobile use of Dahua's big data and cloud computing services, video surveillance equipment and Internet of Things technology, they said. The initiative could be a boon for Hangzhou-based Dahua and rival Hangzhou Hikvision Digital Technology Co Ltd, with products such as video surveillance, access control and remote image monitoring systems.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »