The stock of Cleantech Solutions International Inc (NASDAQ:SEII) closed at $9.47 gaining 0.96%in yesterday’s trading session. Cleantech’s plan to acquire Touch Media is something that has been ongoing over quite a long period of time. Finally matters seem to be playing out pretty well considering Cleantech’s entry into exclusivity agreement with Channel power and the two exude confidence that they will be able to have touch media to their side.
CLNT at the moment bears a strong mindset in the global sharing economy, media and technology businesses and that in a major way complements the company’s business.
Director of Channel Power and CEO of Touch Media, Yik Chung Chong opined, “After establishing ourselves as Hong Kong’s leading in-taxi interactive media companies, we look forward to this potential collaboration with CLNT, which can support our efforts to expand our advertising coverage to more taxis and their passengers.”
Asides from that, they will also be laying much focus on the replication of the business model in a series of the overseas markets. The COO of Cleantech Solutions, Parkson Yip said that as a company they were very much excited about the potential collaboration with Touch Media saying that it would move a long way giving them an edge over rivals.
As per now, there are about 18,000 taxis on the streets of Hong Kong and reports indicate that a substantial fraction of them bear the Touch Media’s touchscreen consoles. Such consoles serve as pretty useful travel guides to quite a significant number of tourists and also serve passengers with numerous promotional advertisements related to their respective locations.
The best part about linking with CLNT and Touch Media is the fact that it will be possible to explore a number of the in-vehicle advertising business. That will of course be through the existing taxi network within Hong Kong and if everything goes according to plan there will be the expansion into more vehicles.
Expanding vision to the concept of a ‘mobilized WiFi city’ which will allow users and more so foreign investors gain easy access to WiFi signal through Touch Media consoles is part of the company’s top priorities.