Plainview-based NeuLion Inc., an Internet television company, will acquire the operating interest of the maker of the set top boxes it uses in a deal valued at about $11.7 million, the company has announced.

NeuLion will acquire TransVideo International Ltd., based in Beijing, in exchange for about 22 million company shares. The deal will give NeuLion “greater control over the future development” of the set top boxes, the company said in a news release.

If the transaction is approved by shareholders and regulators, TransVideo shareholders would own about 15 of the company.

NeuLion chairman Charles B. Wang also controls the company that controls TransVideo, AvantaLion Llc.

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The acquisition would put Wang in control of about 40 million of the company’s outstanding 139 million common shares.

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