Qihoo, Netcore form JV for smart routers
Print Edition
QIHOO 360, China’s biggest online security firm, said yesterday it will invest 200 million yuan (US$33 million) to form a joint venture with Shenzhen-based Netcore to penetrate the smart router market in China.
Both companies plan to co-develop smart routers used by families at home with Internet security features and able to connect various home appliances and smartphones through the Internet.
Qihoo 360 is China’s biggest online security firm and the No. 2 Internet search engine service provider while Netcore is a telecommunications equipment vendor founded in 2000. By the end of last year, Netcore’s network had sold 50 million routers, including exports to North America and Europe.
The joint venture is another example of integrating Internet and hardware services.
Similar tie-ups in China include Xiaomi’s investment in November in Youku Tudou for online video, Baidu.com’s cooperation with Lenovo Group on router and Qihoo 360’s US$409.1 million joint venture with Coolpad on smartphone.
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