Zoom Technologies Trades Higher (ZOOM)

Celestial Digitial Entertainment (CDE) has been acquired by ZOOM Technologies (NASDAQ: ZOOM) today. ZOOM executed a share exchange agreement to acquire 100% of the shares of Celestial Digital Entertainment (CDE), a mobile platform video game development company based in Hong Kong. CDE was purchased for $1,818,00 worth of company's common stock, valued at $3.75 per share. The acquisition is expected to close January 3, 2011. The current check price of ZOOM is $4.08, up 10%.