Qihoo 360 (QIHU) Slips; Sohu Talks End Following Tencent Deal
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Qihoo 360 Technology (NYSE: QIHU) shares are lower Monday following Sohu.com (NYSE: SOHU) and Tencent Holdings announcing a new strategic cooperation between Tencent and Sohu's Sogou unit.
Sohu Chairman Charles Zhang noted that the company isn't looking for additional investors for its search unit in the near future and talks with Qihoo have ended, according to Bloomberg.
The Tencent investment will help with Sohu's status in the Internet search arena, while enabling the company to better develop its media and entertainment services. Zhang noted that Tencent's investment indicates that
Qihoo is down over 4 percent while Sohu is up over 4 percent early.
Sohu Chairman Charles Zhang noted that the company isn't looking for additional investors for its search unit in the near future and talks with Qihoo have ended, according to Bloomberg.
The Tencent investment will help with Sohu's status in the Internet search arena, while enabling the company to better develop its media and entertainment services. Zhang noted that Tencent's investment indicates that
it is betting its future on mobile search with Sogou.
Qihoo is down over 4 percent while Sohu is up over 4 percent early.
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