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Cheetah Mobile to acquire MobPartner
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NEW York-listed Cheetah Mobile Inc, China’s No. 2 mobile security firm, announced today it will use US$58 million to acquire global mobile advertising company MobPartner.
Beijing-based Cheetah, now with more than 340 million monthly mobile users, aimed to build itself a competitive global mobile advertising player after the acquisition, said Fu Sheng, chief executive Cheetah Mobile, whose investors including Xiaomi Corp’s founder Lei Jun.
"The acquisition of MobPartner will further enhance Cheetah Mobile's expertise in mobile advertising and together we will be building one of the world's leading mobile advertising platforms," Fu said in a statement.
The deal is payable in cash and stock. The transaction is subject to customary closing conditions, both sides said.
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