Chinese tech companies' overseas expansion
Chinese tech companies have continued their push to expand overseas. Major deals include Tencent-led consortium’s $10.2 billion bid for Finnish game developer Supercell, Alibaba Group Holding’s purchase of a controlling stake in Southeast Asian online shopping giant Lazada Group SA for roughly $1 billion, and LeEco’s acquisition of Vizio Inc, a major TV manufacturer in the United States, for $2 billion in cash.
The list also includes Cheetah Mobile’s payment of $57 million for French news aggregator company News Republic; Baofeng Technology’s joint purchase of 65 percent stake in MP & Silva Ltd, one of world's largest sports program distributors, with Everbright Securities Co; and JD.com’s takeover of Yihaodian, an online marketplace run by Wal-Mart.
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Supercell CEO Ilkka Paananen (left) and Martin Lau, president of Tencent Holdings Ltd, pose while meeting with the media in Helsinki, Finland. [Photo/Agencies] |
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