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Sohu.Com Inc, Sogou Inc and Tencent Holdings Ltd Jointly Announce Strategic Cooperation

Monday, 16 Sep 2013 05:31am EDT 

Sohu.Com Inc, Sogou Inc and Tencent Holdings Ltd announced the establishment of a strategic cooperation that will reinforce and strengthen Sogou in China market for search and internet services, particularly for the mobile platform. To implement this strategic cooperation, Tencent has invested a net amount of USD448 million in cash in Sogou and merged its Soso search related businesses and certain other assets with Sogou. Immediately after the transaction, Tencent holds 36.5% of Sogou's equity capital on a fully-diluted basis, which could further increase to approximately 40% in the near future. Sohu, together with its affiliates, remains the controlling shareholder of Sogou, which will continue to operate independently as a subsidiary of Sohu. Tencent and Sogou have agreed to jointly develop, cross-promote and integrate their respective products and services, while collaborating in areas of search technology, user insights and data sharing. Sogou's products, including Sogou Pinyin and Sogou Search, will have direct access to the user base of Tencent's online and mobile social communities. 

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