Xunlei (XNET) to Acquire Hupu

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Go back to Xunlei (XNET) to Acquire Hupu

Xunlei to Acquire Hupu

January 27, 2025 7:00 AM EST

SHENZHEN, China, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Xunlei Limited (Xunlei or the Company) (Nasdaq: XNET), a leading technology company providing distributed cloud services in China, today announced that it has entered into a definitive agreement to acquire Shanghai Kuanghui Internet Technology Co., Ltd., which operates Hupu, for a total cash consideration of RMB500 million, subject to certain adjustments. Hupu is Chinas leading sports media and data platform. The closing of the transaction is subject to certain conditions and is currently expected to occur in the first half of 2025.

Acquiring Hupu is expected to... More