Already a Bloomberg.com user?
Sign in with the same account.
Oct. 17 (Bloomberg) -- Carlyle Group said it bought an 80 percent stake in GDC Technology Ltd., China’s biggest maker of servers for digital cinemas, together with a local private- equity fund backed by Alibaba Group Holding Ltd. founder Jack Ma.
Carlyle’s $1 billion Asia Growth Partners IV fund is making the investment together with Ma’s Yunfeng Capital, according to a joint statement from Carlyle and GDC Technology today. The U.S. buyout firm is investing about $75 million in GDC Technology, said a person with knowledge of the matter who declined to be identified because financial terms weren’t made public.
GDC Technology has more than 4,500 installed servers in China, giving it a 54 percent local market share, the release said.
--Editor: Philip Lagerkranser
To contact the reporter on this story: Cathy Chan in Hong Kong at email@example.com
To contact the editor responsible for this story: Philip Lagerkranser at firstname.lastname@example.org