BEIJING, June 11, 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 reached a
definitive agreement to fully acquire HongKong Zoom Interactive
Network Marketing Technology Limited ("HongKong Zoom Interactive")
for a total consideration payable of up to US$30 million, which includes US$20 million in cash and approximately
US$4 million in Cheetah restricted
Class A ordinary shares, which will be payable upon closing of the
transaction. The remainder will be paid over a two-year period
contingent upon the fulfillment of certain performance-based
milestones by the management of HongKong Zoom Interactive.
The transaction is subject to customary closing conditions.
HongKong Zoom Interactive, together with its affiliated
entities, operates a mobile advertising business. As a pioneer and
authorized reseller of Facebook ads, one of the top resellers of
Google ads in Greater China and a
preferred partner for global mobile advertising networks such as
InMobi, Millennium Media, AirPush, TapJoy, among others, HongKong
Zoom Interactive has developed a trusted partnership with top-tier
global mobile publishers and advertisers. Cheetah aims to integrate
HongKong Zoom Interactive's advertiser resources and proprietary
technology and know-how, such as Mobile DSP and Digital Marketing
Performance Analytics, to further strengthen its global mobile
monetization capabilities.
"We are very impressed with HongKong Zoom Interactive's
technology and its management team. The acquisition of
HongKong Zoom Interactive is expected to strengthen our mobile
monetization efforts across the board," said Mr. Sheng Fu, Chief Executive Officer of Cheetah.
"With this addition, Cheetah will be able to further expand into
the overseas market and explore new opportunities for promoting and
monetizing our mobile products. We look forward to our strong
future together."
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.
About HongKong Zoom Interactive
HongKong Zoom Interactive is a leading mobile advertising
agency, providing a unique digital advertising experience for
mobile campaign planning, management, and performance evaluation
for global clients. HongKong Zoom Interactive has developed a suite
of cloud-based marketing campaign management platforms, such as
Mobile DSP and Digital Marketing Performance Analytics, to support
advertising clients by utilizing visitor behavior analytics,
advertising performance analytics, and cross-channel attribution
analytics. HongKong Zoom Interactive is an authorized reseller of
Facebook in China, as well as one
of the top reseller partners of Google in China. In addition, HongKong Zoom Interactive
has strategic partnerships with InMobi, Millennium Media, AirPush,
TapJoy, among others.
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.