Australian telecom buys IT168 and Bubble net

Commercial News (reporter Rotin) Australia telecom IT168 and bubble net into its own, and began to integrate. The foreign company that is eyeing the Chinese internet market has once again made a bid for Chinese internet companies over the weekend, acquiring 55% per cent of our bubble net and two companies.

Hao Chen Media is well-known brand is the Internet site IT168 and Che168, while bubble Net's own pcpop and auto house two sites. In the announcement, Australian Telecom did not disclose the amount of the acquisition, but the company's CEO Chuxi stressed: "The acquisition will be less than half the amount of money paid by the acquisition of SouFun." "This means that the acquisition of the two Internet companies does not exceed 125 million dollars." In 2006, the Australian Telecom bought Mo Tianquan's SouFun 51% stake at a cost of $250 million.

It is noteworthy that the Hao Chen media under its IT168 and Che168 websites are for computers and cars perpendicular to the site, and bubble Net's Pcpop and auto house positioning overlap serious. As a result, Australia Telecom announced that it would consolidate the core business of two companies and make adjustments to the personnel. But Australian Telecom stressed that "the management team of two companies will play an important role in the merged company." ”