Xunlei (XNET) closed the acquisition of Shanghai Kuanghui Network Technology, which operates Hupu, a leading sports media and data platform in China. Pursuant to the terms of the definitive agreement between Xunlei and Kuanghui, Xunlei has paid a cash consideration of RMB400 million prior to the closing. As announced previously, the total cash consideration for the transaction is RMB500 million. Xunlei will pay the remaining RMB100 million cash consideration in two equal installments after twelve and twenty-four months following the closing of the transaction, respectively, according to the terms of the definitive agreement.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XNET: