Chinese software company Kingsoft (3888.HK) has announced that its subsidiary Shell Internet (Beijing) Security Technology (Beike Internet Security Technology), has entered into a supplemental agreement to incorporate Tencent's (0700.HK) Soso search engine on its websites. The supplemental agreement, which lasts from March 1, 2011 until February 29, 2012, amends some terms in the original agreement signed between Tencent Shenzhen and Beike in June 2011.
Tencent will pay service charges calculated based on market price and the average daily search volume created from Beike's websites, with an annual cap for the period ended December 31, 2011 of RMB 6.9 mln and for the period from January 1 to February 29, 2012 of RMB 2.8 mln. The annual cap was determined based on the monthly expected number of searches by users of Beike's relevant websites.
Editor's Note: Beike operates Kingsoft directory portal 123.duba.net, which now features a Soso search box.