Cruise Acquisition Game information Portal 17173 transaction amount 160 million USD

November 30 News Tour and its controlling shareholder Sohu 30th announced the signing of the final agreement on November 29, 2011, the tour will be from Sohu acquisition of China's leading game information portal 17173.com business. 17173 is the domestic recognition of the game information authoritative media, for players to provide a variety of terminals and many types of game information.

According to the deal, the cruise will be 162.5 million U.S. dollars fixed cash on the price from Sohu acquisition of 17173 business-related assets. This transaction is expected to be completed by December 2011 after completion of the prerequisites specified in the transaction agreement. Considering this deal, Sohu and the tour revised the current competition agreement, Sohu agreed to the deal from the date of delivery of the agreement on the five-year period does not compete with the tour in 17173 business areas.

"The 17173 acquisition provides a strong foundation for the company to implement our services and platform program," said Mr Wang Yu, a cruise chief executive. As the preferred game portal for Chinese gamers, 17173 is the leading information media in the gaming industry with a huge user base. Through further development of its services and tools, we can develop 17173 as a leading platform for players to provide one-stop service. Today players need not only information services, but also downloads, sharing, trading, and online communities. Through this acquisition, the tour will not only provide players with quality products, but also enhance the ability to provide quality services to players. ”

Mr Wang Yu further said: "We look forward to the expansion of the 17173 has developed 10 years of brand advantage, so that it becomes a more influential game promotion platform for advertisers to provide more effective services." A swim in the leading position of the Web game and the attempts of mobile games can help 17173 more effectively plan and develop these new areas of the game channel. In addition, we will use the offline promotion team and the good cooperation with overseas game companies, further increase the penetration of 17173 in the domestic market and accelerate the pace of its expansion of new markets. ”

"This transaction reorganized Sohu's business and enabled us to combine two of our leading business in the gaming industry with our excellent management team," said Dr Charles Zhang, chairman and chief executive of Sohu. We are in the same game as the 17173 vision, and we support the strategy of further broadening the 17173 platforms and services to provide more players with richer content, innovative tools and differentiated services. The swim and 17173 synergy will bring long-term benefits to its shareholders, and Sohu as a visiting controlling shareholder will benefit. ”

17173 is a nationally recognized game media and leading gaming portal. The report on the authority of gaming information makes 17173 highly recognized by the player. Over the past six years, 17173 of the Games Industry annual conference of the "Top Ten Game media" first. 17173 with numerous channels covering a wide range of game areas for the vast number of players to provide their interest in the information, providing a variety of content, from "Large multiplayer online games" to "electronic athletics" to "Guild" and so on, and has more than 650 popular games in the area.

In addition, the tour and Sohu has signed a service agreement and online connection and advertising agreements. According to the service and advertising agreement, Sohu provides the specified technical support, links and advertising space to the tour, including providing and maintaining landing systems, information management and virtual currency payment systems. The virtual currency payment system for services and advertising agreements is 25, and all other services, links, and advertising space have an initial period of 3 years with a total cost of about $30 million. In addition, under the Service and advertising agreement, the cruise has the right to extend certain competencies for some 5 million dollars for 22 years, and to obtain permanent software authorization for the landing System and information management system after the end of the three-year initial period.

The Board of Directors of the tour and Sohu has approved the deal, the agreement, the service and the advertising agreement related to the transaction. Since the trading agreement is a relatively significant contract between the cruise and Sohu, and this transaction, this transaction-related agreements, services and advertising agreements are between the travel and Sohu related transactions, so the audit committee of the two sides to consider the third party from the financial perspective of the transaction agreement on the price of the "fair opinion", Independent review and approval of this transaction, transaction agreement, this transaction-related agreements, services and advertising agreements, and respectively to the respective board of Directors to recommend the approval of this transaction, transaction agreements, this transaction-related agreements, services and advertising agreements. In addition, as Dr. Charles Zhang also served as Sohu's chairman and CEO and the chairman of the tour, Dr. Zhang evaded the meeting of the Board of directors to discuss this transaction, the deal agreement, the agreements, services and advertising agreements involved in the transaction, and avoided the board's agreement on this transaction, the deal, the deal, Voting on services and advertising agreements.