Phoenix New Media To Invest $57.6M In Mobile App Particle

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Beijing-based new media company Phoenix New Media Limited has agreed to acquire a 21% stake in news mobile app maker Particle Inc. for US$30 million, according to a company announcement.

In addition, Phoenix also entered into a definitive share purchase agreement with certain undisclosed existing shareholders of Particle to acquire an additional 13.8% stake for another US$27.6 million.

China Money Network

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