Yangtze Telecom Corp. is acquiring 65% of China United Telecom Technology Ltd., a specialist in short-messaging services, or SMS.

The deal, announced Wednesday, teams Yangtze with China Business Cybercast of Beijing in the wireless services market. China Business Cybercast, as a 35% stake holder in UTT, is the only service provider in China with SMS licensed specifically for enterprise use. Yangtze said it will initially issue one million shares on closing, and then up to 3.5 million shares over two years.