Cheetah Mobile Acquires Hong Kong Online Marketing Company For USD30 Million
Cheetah Mobile, a subsidiary of Kingsoft, announced that the company has reached an agreement with Zoom Interactive, a Hong Kong online marketing company, on a full acquisition for USD30 million.
The USD30 million consideration will reportedly include USD20 million in cash and about USD4 million in Cheetah Mobile restricted class A ordinary shares. In addition, the remaining will be paid in a two-year earn-out period contingent upon the fulfillment of certain performance-based milestones by the management of Zoom Interactive.
Zoom Interactive, together with its affiliated entities, operates a mobile advertising network. It was an initial authorized reseller of Facebook advertisements and a top reseller of Google advertisements in Greater China. It is also a preferred partner for global advertising networks such as InMobi, Millennium Media, AirPush, and TapJoy. The company has establish partnerships with the world's leading mobile publishers and advertisers
With the acquisition, Cheetah Mobile plans to integrate Zoom Interactive's advertising resources and technologies, including Mobile DSP and Digital Marketing Performance Analytics, to enhance its mobile monetization capabilities.
Formerly known as Kingsoft Network, Cheetah Mobile is a Chinese Internet security company which provides basic application services to users. Its major products include Clean Master, CM Security, Battery Doctor and Duba Anti-virus. On March 25, 2014, the company was renamed to Cheetah Mobile and launched its IPO at New York Stock Exchange on May 8, 2014.