Sohu Alibaba acquired Sogou shares completed in October

October 13th news according to foreign media reports, said CTO Wang Xiaochuan, the Sohu, Alibaba acquired the Sohu’s stock trading company Sogou search will be completed in October. He also said that cooperation between the two sides will not be limited to the sharing of search technology.

Wang Xiaochuan said in a telephone interview, Sohu did not discuss with Alibaba to provide backward search technology to support YAHOO china.

Alibaba spokesman declined to comment. Hong Kong listed companies Alibaba Network Limited ( Ltd., 1688.HK, referred to as Alibaba) the parent Alibaba Group acquired in 2005 Yahoo China, this is the year with YAHOO (Yahoo Inc. YHOO) part of the deal.

In a document submitted to the stock exchange in October 4th, Sohu

said that in early October, Alibaba agreed to invest $15 million acquisition of new preferred shares issued by sogou. In the case of Sogou shares were completely diluted, after the end of the transaction will be obtained Sogou Alibaba issued 10% of the share capital.

said Sohu, founded by Alibaba group Ma Yun, Vc firm (Yunfeng Fund LP) Yunfeng fund will invest $9 million acquisition of Sogou outstanding equity of 6%, another by Sohu CEO Zhang Zhaoyang (Charles Zhang) investment fund will invest $24 million to acquire 16% of the issued share capital of sogou. (end)

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