Xiaomi Takes 10% Share in Kingsoft Cloud Group
Hong Kong Exchanges and Clearing, 11/30/12
Chinese software developer and online entertainment provider Kingsoft (3888.HK) has announced that the company has reached an agreement to issue and sell 91 mln shares in its cloud computing subsidiary Kingsoft Cloud Group to Beijing-based Android handset developer Xiaomi. The total value of the transaction is USD 1.82 mln, or USD 0.02 per share. Xiaomi now holds a 9.9% stake in Kingsoft Cloud Group.
Editor's Note: For more background on this topic, please see "Xiaomi Unveils Cloud Storage Service" MD 7/12/12 issue.
Keywords: Kingsoft handset wireless cloud computing 3888.HK Xiaomi investment Kingsoft Cloud
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