Sogou completed privatization transactions, search and input methods, and maintained Sogou brand operation

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Tencent technology news on September 24. On September 23, Eastern time, Sogou (NYSE: SOGO) announced the completion of the merger with Tencent. After the merger, Sogou will become an indirect wholly-owned subsidiary of Tencent holdings and complete delisting. This is also the first time that Sogou has disclosed further details of the merger since the State Administration of market supervision unconditionally approved Tencent Holdings Co., Ltd. to acquire the equity of Sogou on July 13 this year.
The announcement said that based on the merger agreement and plan signed by Sogou and THL A21 Limited (THL), titansupernova Limited (parent company) and Tencent mobility Limited (TML) on September 29, 2020, the amendment on December 1, 2020, the further amendment agreement on July 19, 2021 and the relevant agreements under it, the parent company will merge with Sogou and Sogou will continue to operate as a surviving company. After the merger, Sogou will become an indirect wholly-owned subsidiary of Tencent holdings and complete delisting.
In addition, the management of Sogou expressed gratitude to all employees of Sogou for their contributions to the company so far, and looked forward to the future of Sogou.
Meanwhile, Sohu (NASDAQ: Sohu) successively issued announcements confirming the completion of Sogou’s equity transaction. Sohu, which holds 33.8% of Sogou’s shares, will obtain $1.18 billion after the transaction, and will no longer retain any rights and interests of Sogou.
According to Tencent insiders, after Sogou delisting, the merger will enter a substantive stage. Previously, Sogou had an independent product matrix. After becoming a wholly-owned subsidiary of Tencent, its original search, AI, input method and other businesses, browser, reading and other products will be integrated with similar products of PCG.