UPDATE 1-Changyou to buy 17173.com from Sohu for $162.5 mln
Nov 29 (Reuters) - Chinese online game developer and operator Changyou.com Ltd said it will buy game information portal 17173.com from search engine firm Sohu for $162.5 million in cash.
As part of the deal, Sohu agreed not to compete with Changyou in the 17173 business for five years after the closing of the transaction, Changyou said.
17173.com is a news provider and advertising medium for games in China.
"As a leading online destination for gamers in China, 17173 has strong media presence in the games sector and a vast base of users for which we can develop services and tools to grow 17173 into a leading platform and one-stop-shop service-provider for gamers," Changyou's chief executive, Tao Wang, said in a statement.
- U.S., Arab partners launch first strikes on IS in Syria
- Qatar adamant it will host 2022 World Cup despite doubts
- Ebola could strike 20,000 in six weeks, 'rumble on for years': study
- Argentina's Fernandez to meet billionaire investor Soros in New York
- More Americans than ever have never married: survey