Portal acquisition
By Cathy Ding |
April 22, 2011, Friday
|
Print Edition
Print Edition
NASDAQ-LISTED video website operator Ku6 Media Co said it will acquire Hangzhou-based Pipi.com, a smaller Internet video platform, through an all-stock transaction.
Ku6 will issue 2.2 billion ordinary shares to shareholders of Pipi.com and the transaction is expected to be completed by the end of the second quarter.
Unlike Ku6, which provides direct links to movies and TV series for users to view online, Pipi.com allows users to download a peer-to-peer software that enable them to access video resources or live broadcasting through the client software on a simultaneous basis.
"We will achieve synergies between the two sites and continue to expand our market share as well as the number of advertising clients in the rapidly-growing online video market in China," said Zhu Haifa, acting chief executive officer of Ku6.
Ku6 will issue 2.2 billion ordinary shares to shareholders of Pipi.com and the transaction is expected to be completed by the end of the second quarter.
Unlike Ku6, which provides direct links to movies and TV series for users to view online, Pipi.com allows users to download a peer-to-peer software that enable them to access video resources or live broadcasting through the client software on a simultaneous basis.
"We will achieve synergies between the two sites and continue to expand our market share as well as the number of advertising clients in the rapidly-growing online video market in China," said Zhu Haifa, acting chief executive officer of Ku6.
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