Kingsoft Software affiliated company Shell Internet 30 million overweight magic show technology

Jinshan Software issued a notice that its non-wholly-owned subsidiaries Shell Internet has been with Tencent subsidiary Palm Star signed the purchase agreement, to 30 million yuan in cash to buy Palm star's magic Show technology 22.2379% of the shares. After the deal is completed, Shell will hold about 50.5% of the magic Show technology, become a controlling shareholder, and the palm of the star all exit.

This transaction is Jinshan software on magic Show technology, the second investment, before in February, Jinshan had 20 million yuan in cash, and the value of 5 million yuan to promote investment in the magic show.

Magic Show Technology was founded in 2007, is a mobile phone theme community, to provide users with mobile phone theme online production services, support iOS, Android and other mainstream systems. On the mobile side, the Magic show owns the Magic Show desktop and the Magic show wallpaper two app. Its official web site data claim that more than 30 million users, with up to 10 million themes, theme days updated more than 200.

According to Jinshan Software Bulletin, magic Show Technology financial data show that 2013 company loss limit of 14.69 million yuan, 2012 is a loss of 8.65 million yuan. As of December 31, 2013, the net worth of magic show technology was about $6.59 million trillion. The introduction of new investment is conducive to further enhance its mobile end product development and promotion, while leveraging Jinshan network under the Cheetah Mobile.

In this respect, Jinshan Software's Cheetah Mobile CEO Fu said:

Cheetah mobility is a great way to appreciate the creative abilities of the Magic show team and their achievements in providing mobile UGC services and mobile phone offerings. In the future, Cheetah, magic show will carry out business synergy, jointly develop, cross recommend, integrate their products and services. The investment in the magic show will strengthen the cheetah's overall mobile service, help the cheetah to expand its outreach channel and broaden its product line.

Taking into account the cheetah Mobile in recent years in the mobile end of frequent layout, already has a leopard cleaning master, Jinshan battery doctor, Sange, such as a variety of tool-type app, holding the main desktop landscaping magic show is conducive to further enhance its position in the tool-type application, improve the product matrix.