BEIJING, Aug. 12, 2014 /PRNewswire/ -- Cheetah Mobile Inc.
(NYSE: CMCM) ("Cheetah" or the "Company"), a leading mobile
internet company that provides mission critical applications to
help make the internet and mobile experience speedier, simpler, and
safer for users worldwide, announced today that it has entered into
a Share Purchase Agreement with Beijing Starsinhand Technology
Company Limited ("Starsinhand"), a subsidiary of Tencent Holdings Limited ("Tencent"), to acquire an additional approximately
22.2% equity interest in Moxiu Technology (Beijing) Co., Ltd. ("Moxiu Technology") for a
total consideration of RMB30 million
in cash. Upon completion of the transaction under the Share
Purchase Agreement, Cheetah will become the majority shareholder of
Moxiu Technology, holding approximately 50.5% equity interest.
"We are very excited to cement our strategic partnership with
Moxiu Technology through this additional equity investment. We have
very high regard for Moxiu's strong innovation capabilities and its
mobile user generated content services and mobile launcher
products," said Mr. Sheng Fu, Chief
Executive Officer of Cheetah. "Looking forward, we see significant
synergies for Cheetah and Moxiu to jointly develop, cross-promote
and integrate their respective products and services. We believe
this investment will strengthen Cheetah's overall mobile offering,
helping to expand our promotional channels and product lines."
About Moxiu Technology
Moxiu Technology is a limited liability company established in
the People's Republic of China on
June 12, 2008. The Beijing-based Company is mainly engaged in the
development, research, and provision of mobile user generated
content services and mobile launchers.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile internet company with
approximately 362 million monthly active users in March 2014. Its mission critical applications,
including Clean Master, CM Security, Battery Doctor and Duba
Anti-virus, help make the internet and mobile experience speedier,
simpler, and safer for users worldwide. Cheetah Mobile is the
second largest internet security software provider in China by monthly active users as of
March 2014, according to iUserTracker
of iResearch, and the publisher of Clean Master, the #1 mobile app
in the Google Play Tools category worldwide by monthly downloads in
March 2014, according to App Annie.
The Company also provides various platform products such as
Duba.com, Cheetah browser, game centers, and mobile app stores to
provide multiple user traffic entry points and global content
distribution channels for its business partners.
Safe Harbor Statements
This press release contains forward-looking statements. These
statements, including management quotes and business outlook,
constitute forward-looking statements under the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements. Such statements involve certain
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in the forward-looking
statements. These forward-looking statements include, but are not
limited to, statements about: Cheetah Mobile's growth strategies;
Cheetah Mobile's ability to retain and increase its user base and
expand its product and service offerings; Cheetah Mobile's ability
to monetize its platform; Cheetah Mobile's future business
development, financial condition and results of operations;
competition from companies in a number of industries including
internet companies that provide online marketing services and
internet value-added services; expected changes in Cheetah Mobile's
revenues and certain cost or expense items; and general economic
and business condition globally and in China. Further information regarding these and
other risks is included in Cheetah Mobile's filings with the U.S.
Securities and Exchange Commission. Cheetah Mobile does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under applicable law.
SOURCE Cheetah Mobile Inc.