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Kingsoft to Split Software, Gaming Businesses

Sina Tech, 1/15/09

KAU Pak Kwan, chairman and CEO of Chinese application and online entertainment software developer Kingsoft (3888.HK), has confirmed that the company will split its gaming and software businesses into two separate companies. The two companies will be led by separate CEOs, who have already been selected, but whose names have not yet been made public.

Kau stated that after the Chinese New Year holiday (Jan 25-31), Kingsoft would make an official announcement and provide more specific details regarding the split. A framework for the split has apparently been determined, with Kingsoft becoming a holding company for the two separate subsidiaries. Kau further mentioned that after 2010, there was a possibility that one of the subsidiary companies would be publicly listed, although it was still undecided which one this would be.

Keywords: Kau Pak Kwan corporate restructuring 3888.HK Chinese New Year Kingsoft software online gaming

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