Tencent pays $115m for 15% stake in Chinese software company
Chinese software company Kingsoft has agreed to sell a 15.68% stake to leading internet platform Tencent for HK$892 million ($115 million). Tencent will also invest $20 million in Kingsoft’s internet security subsidiary, which counts Matrix Partners China among its investors.
Kau Pak Kwan, founder and CEO of Kingsoft, will sell 111.5 million shares to Tencent, while a further 66.9 million shares will come from Cheung Shuen Lung, a non-executive director. As a result, Tencent...
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