The stock of Cleantech Solutions International Inc (NASDAQ:CLNT) closed at $9.09 gaining 2.60% in yesterday’s trading session. The latest move by Cleantech is its entry into an exclusivity agreement with Channel Power. The two are coming together in a joint move to acquire Touch media. In the last meeting held between the two business gurus, each one of them indicated its full commitment inline the new deal with Cleantech terming the move a progressive one.
An official working with Cleantech in a recent board meeting outlined that they had found a worthy partner in Channel Power adding that they had spent a little time checking out its track record before resorting to their final move. The acquisition of Touch media will move a long way in helping the two generate more revenues as well as improve their business rankings at a time when competition between businesses has become the order of the day.
Cleantech is making its entry hoping to acquire not less than 73 percent of channel power and it will be marking a new dawn for the company which has over the years dedicated itself to boosting productivity despite the opposing force of challenges.
Cleantech thinks that by achieving its set goal of attaining a relatively strong position in the market it will be able to enhance its image as well as attract more investors. It will also be seeking to strike bargains that favor it though it won’t be out to downplay the rest of the partners.
The other thing the company will be looking forward to will be to obtain 51 percent in the voting rights. The company’s spokesperson said that they were really prioritizing the issue of voting rights because it was the only way that their voice was going to be heard. He said that they had been part of other deals where their voice was drowned by partners simply because they had pretty little in terms of voting rights.
A person familiar with the most recent developments opined, “The striking of business alliances has become the order of the day for most of the companies around the globe and that is because of the positive outcomes usually associated with them.”