July 29 -- BlueFocus Communication Group (300058) intends to spend 310 million yuan to acquire three advertising companies, reports China Business News, citing a company filing.

BlueFocus Communication will spend 108.75 million yuan in cash to acquire Beijing Kinggo Advertising and Communication, and the remaining value will be paid by issuing 10.67 million shares at 30.57 yuan apiece. The acquisition price is equal to roughly 25 percent of the target company’s asset value.

Separately, the company will inject 174 million yuan into Eyesmedia to acquire a 51-percent stake in it.

BlueFocus Communication will also inject 25.5 million yuan into Phluency.

Established in 1996, BlueFocus Communication Group is a public relations and brand management company.