Tencent offers to buy out search engine Sogou in $2.1bn deal
Tuesday, 28 July 2020
Portland/Hong Kong — Tencent Holdings has offered to buy out and take private search engine Sogou in a $2.1bn deal, adding to a slew of Chinese technology giants seeking to delist from US bourses. Shares of the social media heavyweight Tencent climbed as much as 4.7% on Tuesday, buoyed by speculation it will more closely integrate Sogou’s artificial intelligence (AI) technology with its own services and devices to gain an edge on rivals such as TikTok owner ByteDance. Tencent, in which Naspers has a...
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