Tencent shares Sogou inject $448 million into Sogou SOSO
Sohu and Sogou today announced a strategic cooperation with Tencent, the picture left for Ma Huateng, Wang Xiaochuan,
sina science and technology news September 16th afternoon news, Sohu and Sogou today announced a strategic cooperation with Tencent. Tencent to Sogou inject $448 million, and the Tencent’s soso business and other related assets into Sogou immediately after the completion of the transaction, Sogou 36.5% shares fully diluted Tencent, and the Tencent stake will increase to around 40% in the near future.
investment in Tencent, Sohu and its affiliates is still the controlling shareholder of Sogou, Sogou will continue to operate as a subsidiary of Sohu. In the newly established Sogou company, Zhang Zhaoyang continue to serve as chairman, President and chief operating officer of Tencent, Ren Yuxin served as director. Wang Xiaochuan continues to lead the company as a director and ceo.
Tencent and Sogou consensus: joint research and development, joint promotion and comprehensive integration of both products and services, and in-depth cooperation in the field of search technology, user research and data mining. Sogou to Tencent’s PC and mobile communities in a huge user base, including Sogou input method and Sogou search products, including.
"this strategic cooperation will expand Sogou market share, and enhance its search market in the fierce competition in the PC, and the rapid development of mobile search leader" on the market, Sohu chairman and CEO Zhang Zhaoyang said, "Sogou will continue as a strategic asset Sohu, synergies and create greater value to the shareholders of the Sohu and our other business."
The chairman of the board of directors of Tencent Inc
CEO Ma Huateng said, we believe that Sogou and soso after the merger, the Tencent will be in the social, browser and content platform, especially to provide better search experience for the user in the mobile terminal.
the transaction was signed on September 16, 2013 and completed at the same time. Credit Suisse served as the transaction in the Sohu’s financial advisor. Goldman Sachs served as financial advisor to Tencent in this transaction.
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