Securities Daily, 9/05/12
Chinese Internet services and security software provider Qihoo 360 (NYSE: QIHU) has reportedly poached dozens of engineers from IT solutions provider Beijing Ultrapower Software (300002.SZ), where they worked on China Mobile's (NYSE: CHL; 0941.HK) 'Fetion' mobile instant messaging (IM) software, by offering significantly higher salaries. Qihoo 360 CEO Zhou Hongyi denied rumors that the company is planning to enter the IM market.
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