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Beijing Ultrapower Software Co announced on Tuesday evening that the company had signed an agreement with Microsoft Corp's China investment arm to purchase 12 million shares, or 8 percent, of Dalian Hi-Think Computer Technology Corp (DHC), the 21st Century Business Herald reported.
The deal would amount to $10.8 million, according to Ultrapower's statement.
DHC, an application software products and services provider, posted an operating revenue of 700 million yuan and a net profit of 144 million yuan in 2009. Microsoft was its second-biggest shareholder.
The stock transfer is now awaiting approval from the Ministry of Commerce, the newspaper said.
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