(Yicai Global) Oct. 27 -- Technology solutions provider Digital China Group Ltd. [SHE:000034] plans to acquire Shanghai Yungoal Info Tech Co. for CNY252 million (USD38.18 million) to boost its plans in the cloud computing sector, the buyer said in a statement yesterday.

Digital China already has a 30-percent stake in Yungoal, which it bought for CNY108 million (USD16.36 million) in May this year. After the deal, the target will a wholly-owned subsidiary and consolidated into the buyer's financial statements.

The acquisition will complement Digital China's existing value-added cloud services, rapidly improve its technologies in the field and help it stand out among managed cloud service providers.

The country's largest creator and operator of corporate information integration platforms, Digital China has built up a resource pool with more than 120 types of cloud-based software-as-a-service products and over 500 partner resources.

Founded in 2012, Yungoal has become China's leading provider of value-added cloud services, specializing in the migration, operation, maintenance and software development of public or hybrid cloud platforms. It provides cloud computing technical advice and training for 100 of the world's top 500 companies.

Digital China suspended stock trading on Oct. 16 due to plans for major asset restructuring. It has not yet resumed trading.