Qihoo 360 Technology (QIHU) Announces Completion of $200M Bubyack Plan

Qihoo 360 Technology (NYSE: QIHU) announces that it has completed the US$200 million share repurchase program. The Company has bought back approximately 3.4 million of its American Depositary Shares with an average cost of $58.98 in open market. The repurchase was announced by the Company on October 1, 2014 once authorized by its Board of Directors.

Mr. Hongyi Zhou, Chairman and Chief Executive Officer of Qihoo 360, commented, "The share repurchases reflect our unwavering confidence in our business and are in the best interest of our shareholders. As we continue to generate healthy cash flow from operations to help us fund our ongoing business expansion, we will also regularly review our capital structure to achieve effective usage of our cash in the future."

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