MediaReady, a provider of interactive, media-convergent entertainment devices, has agreed along with Shandong Jiajia International Freight & Forwarding to extend the previously announced letter of intent for MediaReady to acquire a minimum of a 51% controlling interest in Shandong Jiajia.
The agreement was extended as both companies await government approval, which is anticipated to be received shortly, and to accommodate the auditing of
The letter of intent now provides that the parties will enter into a definitive agreement with expectations of a successful closing of the acquisition by January 31, 2008.
Jeffrey Harrell, president of MediaReady, said: Both companies remain committed to completing this acquisition and are working diligently to achieve the closing of this transaction. We believe that through this acquisition MediaReady can achieve a profitable future and an international presence.