merger Archives - Pandaily

WM Motor and Kaixin Auto Sign a Letter of Intent for Merger and Acquisition

On September 11th, Kaixin Auto announced that it has signed a non-binding letter of intent for acquisition with WM Motor.

Evergrande Auto to Be Merged, Tianjin Factory to Shut down

Forty-three days after the pre-sale of its Hengchi 5 model began, Evergrande Auto is reportedly to be acquired by another automobile company, and this acquisition may be led by the local government.

Sogou Map to Cease Operations on May 15

Sogou Map announced through its official website on Wednesday that it would officially stop operations at 23:00 on May 15, closing all services.

Honeymoon Dessert’s Parent Company Completes Round of Strategic Financing

Honeymoon Dessert and Tea Buds, two Chinese food and beverage brands, have recently merged. The parent company of Honeymoon Dessert also announced the completion of a new round of strategic financing.

EV Battery Charging Firm NaaS to Be Merged With RISE Education

RISE Education announced on Tuesday that it has signed a definitive merger agreement with Data Auto Inc., also known as NaaS, serving the Chinese electric vehicle battery charging market.

Yang Dazhi, Former General Manager of Tencent Kandian, Transferred to Tencent’s CSIG

Yang Dazhi, the former general manager of Tencent Kandian, has transferred to Tencent's Cloud and Smart Industry Group (CSIG) as the Deputy General Manager of Hong Kong, Macao, Taiwan and the International Business Department.

Chinese Fund Terminates $1.4 Billion Takeover of Chip Maker Magnachip Due to US Blockage

Magnachip, a South Korean semiconductor company listed on the New York Stock Exchange, announced on Monday that its merger with Chinese private equity firm Wise Road Capital was officially terminated.

Tencent’s Two Major Business Units Experience Personnel Changes

Tencent issued an internal announcement about the adjustment of the positions of two of its vice presidents.

Following Completion of Merger With Tencent, Wang Xiaochuan Steps Down as Sogou CEO

Sogou CEO Wang Xiaochuan released an internal email today, saying that "from today, Sogou will be integrated into Tencent, and I will officially step down as Sogou CEO."

Tencent Kandian to Be Renamed to Tencent Information Platform and Service Line

Chinese media outlet Jiemian reported on Thursday that Tencent Kandian, a subsidiary of Tencent Platform and Content Group, will change its official name to Information Platform and Service Line this Friday.

Baidu’s $3.6 Billion Bid for YY Live Could Fail

China’s antitrust regulator is unlikely to approve Baidu’s acquisition of Joy Inc.’s video-based home live streaming business YY Live for $3.6 billion.

Sogou Announces Completion of Transaction to Go Private

Chinese online search firm Sogou announced today that it has completed a merger according to an agreement reached with Tencent Holdings on September 29, 2020.

Tencent Denies Suspention of Kandian’s Recruitment; Merger of Sogou in Progress

Tencent would officially announce the merger of Sogou this week. Due to the merger, Tencent Kandian will absorb most of the business and employees of Sogou.

Tencent Merges Short Video Platform Weishi and Tencent Video

Chinese media outlet LatePost reported on August 8 that Tencent Video and Weishi have started a new round of integration, even while they continue to develop independently.

China Esports Weekly: Chinese Anti-Monopoly Authority Terminates Douyu-Huya Merger, BYD Auto Sponsors eStar.Pro

Last week was significant for the esports industry in China as the Chinese anti-monopoly authority terminated the merger between China’s two largest gaming live streaming companies - Douyu and Huya. Both live streaming platforms are controlled by Chinese conglomerate Tencent Holdings, and Tencent would have had a 70% market share of the live stream gaming sector if the merger had gone ahead.