Network Qin issued a notice, the company has reached a final agreement, the acquisition of the Network Qin is not currently held by the Beijing Fei nine Days Technology Co., Ltd. (hereinafter referred to as "Fei Nine Days") of the holding shares.
The announcement shows that the Network Qin will acquire the company currently has not held 77.8% of the Liu Fei nine days remaining shares, to this end, the founder of the nine-day float will be sold up to about 30.8 million stocks (equivalent to 6.2 million U.S. depository receipts); After the deal is completed, the founder of the nine-day company still stays in the company, The premise is that a nine-day waterfall can achieve a specific performance-based milestone. Included in the shares that the NetQin plan to issue, about 18.5 million restricted common shares (equivalent to 3.7 million US depository receipts) to be sold on the date of completion of the transaction, as well as the profitability of the maximum of about 12.3 million restricted common shares (equivalent to 2.5 million US depository receipts) based on performance.
After the completion of the transaction, NetQin will control 100% of the FEI Liu nine days of shares. The deal is expected to be completed in the fourth quarter, starting in 2013, which will add value to NetQin's earnings.
Data show that Fei nine days was founded in 2009, is based on the interest of the leading mobile community platform, in the Chinese market to provide users with real-time mobile online activities related services. Nine days to the user community to provide application referral services, interest-based trading venues and mobile games. According to data released by Sino, a third party research firm, the company has 5700多万名 registered users for nine days as of September 30, 2012, the number of active subscribers is 12 million, and is the largest distribution platform for iOS mobile games in the Chinese market.