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Acorn International Agrees To Sell Stake In HJX Unit

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Acorn International, a marketing and branding company in China, said Friday it has agreed to sell a majority stake in its HJX business to an unnamed third-party investor and operator. Financial terms were not disclosed. The HJX business does direct sales of Ozing-branded electronic learning devices.

The agreement establishes a joint venture that will be controlled and operated by the third party in the transaction. “This joint venture marks one of our final key steps in turning around and restructuring the business away from loss-making legacy businesses to focus more closely on our brands and business areas that support our mandate for profitable growth,” said Acorn President Jacob Fisch.

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