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Sogou to complete merger deal with Tencent by 2021

Chinese search engine company Sogou said Monday it expects to complete a merger with Tencent in the second half of this year. According to the merger deal agreement, a subsidiary of Tencent named TitanSupernova will buy out all Sougou’s shares from its current controlling shareholders. After the merger, Sogou will become a private firm owned by Tencent and delist from the New York Stock Exchange. Initiated last September, the deal is worth $3.5 billion and cleared by Chinese market regulators in July. [Sogou]

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Sogou CEO may step down after Tencent acquisition

Wang Xiaochuang, CEO of search engine company Sogou, may step down as it completes a sale to Tencent, Jiemian reports. Tencent vice president Yin Yu may replace Wang. Tencent is expected to finish business consolidation with Sogou as early as August, the report said. Most of Sogou’s business, including search engine and browser units, will be incorporated into Tencent Kandian, a news and content unit. [Jiemian, in Chinese]

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Beijing approves Tencent’s deal to take Sogou private

China’s top antitrust regulator said Tuesday it had “unconditionally approved” Tencent’s plan to take private Sogou, China’s second-largest search engine after Baidu. The blessing from the State Administration of Market Regulation sent Tencent’s shares in Hong Kong up 3.7% on Wednesday. The deal, valued at approximately $2 billion, was first announced in July 2020. [SAMR press release, in Chinese]

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If you focus, you’ll think up a hundred ways to solve a problem: Exclusive interview with Sogou CEO Wang Xiaochuan

“You recognize that the world has changed, but you know that to adapt and change your company’s culture you need to defeat a layer of inertia. It’s like setting broken bones, painful and hard.” —Wang Xiaochuan For Sogou, November 9, 2017, was a very good day – the company had made it onto the New […]