according to people familiar with the matter, 360 completed the sogou deal, control have been achieved. The deal, sogou valuation to $1.2 billion. As for the 360 occupied the specific number of shares is still unknown. 360 in cash and equity transfer ways to complete the transaction.
cloud network hunting had earlier reported that trading in short suspension of things, but then after zhang personal intervention, restarting negotiations, and has a final agreement.
on July 12, the latest news: sogou official were denied the news, said is still and talking about. In 360 it but declined to comment.
according to the I stock news shows that as of March 31, sogou ownership structure should be: 70%, sohu zhang 17%, sogou management team 6.6%, 6.4% yunfeng. If the transaction is completed, and great changes have taken place will be.
it is important to note that in July last year, sogou buy back a stake valued at $237 million to the company. If $360 stake in the $1.2 billion valuation, about 5 times a year growth.
360 m&a sogou negotiations began earlier this year. There have been reports in March this year, zhou and comeback soon sohu founder zhang had been in the media to smash a club meeting in the capital city. Core content at the end of April in early may, trading negotiations leaked out suddenly, and has a note said 360 and sogou when a letter of intent for mergers and acquisitions (termsheet).
since 360 has much overlap with sogou business, if combined, will be in the search and a browser market have great threat on baidu, etc. News, the rumors were struggling in the industry, said, including baidu, alibaba, tencent, etc, many Internet companies to contact us.
today, 360 investment in basic finalize deal. But around wang xiaochuan personal future believe there will be a bigger question. After all, he and zhang is not necessarily completely agree about the company’s strategy. Besides, 360 inside and sogou coincidence could be important executive positions in business online. Wang xiaochuan in sogou personal will can be continue to carry out remains a question.
qihoo 360 shares at $51.35 today dish, as of 23:50 points, rose 3.11% to $52.33, near a record high. Sohu shares opened at $66.49, up 1.16% to $65.92.