Xunlei to acquire Hupu for RMB 500M

Xunlei (XNET) has entered into a definitive agreement to acquire Shanghai Kuanghui Internet Technology, which operates Hupu, for a total cash consideration of RMB500M, subject to certain adjustments. The company said, “Hupu is China’s leading sports media and data platform.” The closing of the transaction is subject to certain conditions and is currently expected to occur in the first half of 2025.