Andre Yoskowitz
16 Sep 2013 21:32
Tencent has announced it will acquire a large 36.5 percent stake in Sohu's Sogou search engine.
The search engine is the third-largest in China, but one of its fastest growing.
After the purchase, the company's share could increase to 40 percent in the future, says Tencent.
The company will pay $448 million for the share.
Sogou has 10 percent share of the market, ahead of Tencent's Soso search engine at 3.15 percent, but well below Qihoo 360 at 17 percent and Baidu at 66.4 percent.