May 23rd news, WeChat public number media training camp, today announced that the music as announced in June will be a comprehensive acquisition of cool. Cool phone’s public relations department denied the matter to the sina science and technology reporter, music, as the relevant person in charge said it would not comment on the matter. But there are cool insiders to Sina Technology revealed: Cool sooner or later to sell music.
this is not the first time, as the music will be wholly acquired cool rumors". Previously, there have been news that, as cool second shareholders, LETV will continue to purchase the remaining shares; in addition, there are rumors that HUAWEI glory before President Liu Jiangfeng will join LETV, served as the general manager of the new company after the acquisition of cool. In April this year, Li Bin, President of cool group in Jinggangshan to accept Sina Technology interview, in response to these rumors, the management did not receive the board and the two major shareholders on the capital changes.
June 28, 2015, cool announced that LETV 2 billion 180 million yuan stake in cool, with a stake of 18% will become the company’s top second shareholders. But this time the shares, has triggered a cool and another buddy of the Qihoo 360.
in early 2014, Qihoo reached a strategic alliance with the cool, cool Qihoo to invest $409 million 50 thousand in cash to set up a joint venture company will hold our Qihoo 360, our 45%% shares, after holdings to 49. 5%.
software started Qihoo 360 in the mobile Internet era, has been eager to find their own hardware entrance, and cool it has been hoping to get rid of dependence for operators, to upstream and downstream industry chain extension. This marriage just meets the needs of both sides. In our established, cool and 360 each department is responsible for. Cool will provide the design, intelligent mobile phone R & D, technology, manufacturing and supply chain marketing, customer service service calendar, and so on, and the 360 is to provide security software, mobile application design and online marketing.
but after six months of cooperation between the two sides, the introduction of cool cool music as the second largest shareholder. As a result, become a shareholder LETV cool has also become our shareholders, also belong to the Qihoo 360, our mobile phone, whether it is from the initial development to the final market strategy will be to master all music.
cool practices led to the Qihoo 360 after the Qihoo 360 took out of dissatisfaction, first established the restrictive competition agreement signed with the new company to cool, the main purpose is to prevent the parties to cooperate with each other competitors. According to the agreement, if continue to cool 360 default, will have the right to exercise option, will all share their holdings by two times the market price of the sale to cool. If not this cool maturity repurchase price of the shares, the subscription price of 360 to half of the acquisition in all our cool 50.5% stake.
September 19th 360, announced that 360 will hold our technology shares increased from 49.5% to 75%, a >