Qihoo 360 Invests $409M In Smartphone Joint Venture With Coolpad

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Chinese security software firm Qihoo 360 Technology Co. Ltd. says it has invested formed a strategic partnership with Chinese smartphone maker Coolpad Group Limited, and it is investing US$409 million in cash to take a 45% stake in a joint venture to be established with Coolpad, according to a company announcement.

The joint venture will primarily focus on creating a strong smartphone brand named "Dazen", while leveraging Coolpad’s smartphone manufacturing experience and Qihoo 360’s capabilities in mobile app development and online marketing.

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