New York Stock Exchange-listed Chinese security software firm Qihoo 360 Technology Co. Ltd. says it has agreed to acquire a controlling stake in Shanghai MediaV Advertising, a Chinese precision advertising platform, according to an announcement made by Qihoo.
No further details of the deal are disclosed.
Founded in 2009, MediaV Advertising previously received three rounds of financing led by LightSpeed Venture Partners, GGV Capital and George Soros-founded Quantum Strategic Partners Ltd. in 2009, 2010 and 2011 respectively, the company’s official website states.
Shanghai-headquartered MediaV provides cloud-based big data analysis services in China, enabling customers to deliver advertising to target audience precisely.
"Combining Qihoo 360’s massive user base and traffic in PC and mobile Internet…we believe we can build a stronger and more efficient online advertising eco-system and significantly enhance monetization of our platform products," says Zhou Hongyi, Chairman and CEO of Qihoo 360.