VC-backed Cheetah Mobile buys HK mobile advertising firm
Friday, June 13, 2014
(AVCJ – Winnie Liu) – Cheetah Mobile, the US-listed internet security software backed by Matrix Partners and Tencent Holdings, has acquired mobile advertising firm HongKong Zoom Interactive Network Marketing Technology in a deal worth around $30 million.
According to a statement, Cheetah will pay $20 million in cash and about $4 million in restricted Class A ordinary shares. The remainder will be paid over a two-year period contingent upon the fulfillment of certain performance-based milestones by the management of the Hong Kong-based subsidiary.
Cheetah aims to integrate HongKong Zoom Interactive's advertising resources, proprietary technology and knowhow, such as mobile DSP and digital marketing performance Analytics, with a view to strengthening its global mobile monetization capabilities.
