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Tencent's wholly-owned acquisition of Sogou, the latter's share price soared 48% on Monday

NetEase Technology News July 28 news, yesterday Tencent announced that it would acquire Sogou wholly-owned for $9 per share. Affected by this, Sogou's share price surged 48.00% on Monday to $8.51, and its closing market value was $3.26 billion. For a long time in the past, Sogou's stock price fluctuated between 3 and 6 US dollars.


It is understood that before the transaction, Tencent was the single largest shareholder of Sogou, holding 38.71% of the shares, exceeding Sohu's 33.44%.


Sohu's share price soared 39.96% on Monday, to 15.55 US dollars, with a market value of 610 million US dollars. According to Tencent's purchase price, Sohu may obtain more than $1.1 billion in funding. Sohu's market value last week was only 430 million US dollars.


Sogou expressed its gratitude to Tencent for its recognition of Sogou's value, technical capabilities, and product innovation capabilities. Next, relevant matters will be carefully discussed and measured, so that Sogou can continue to create greater value for users.


According to the financial report, Sogou's operating income in the first quarter of this year was 1.79 billion yuan, a year-on-year increase of 5%.

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Source: NetEase Technology Report, translated by Google Translate

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