PE-backed Xiaomi gets 10% of Kingsoft’s cloud computing unit
Chinese smart phone maker Xiaomi has agreed to purchase a 10% stake in Kingsoft Cloud Group, a unit of Chinese software maker Kingsoft, for $1.82 million in total.
According to the agreement dated on November 30, Xiaomi will acquire 91 million shares at $0.02 per share. Xiaomi will mainly focus on developing smart phones, while Kingsoft Cloud Group will provide...
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