November 14, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — UTStarcom, Inc. (NASDAQ: UTSI) a firm providing IP-based network solutions for IPTV, internet TV and broadband operators in the cable and telecom sectors, said that it has acquired a majority stake in Stage Smart Ltd.

Under the terms of the transaction, UTStarcom acquired a 75% interest in Stage Smart for US$ 30 million.

The total consideration UTStarcom paid includes US$20 million in cash to Stage Smart in exchange for preferred stock. These funds will be used as working capital by Stage Smart.

A second part of the transaction involved 4,473,272 shares of UTStarcom's common stock issued to Smart Frontier Holdings Ltd., Stage Smart's sole shareholder. In exchange for this two part consideration, UTStarcom owns a majority of the outstanding ordinary shares and all of the preferred stock of Stage Smart.

Beijing-based UTStarcom sells its solutions to operators in both emerging and established telecommunications and cable markets around the world.

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