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Search Rivals Compete to Acquire Sogou


7:27 am on May 13, 2013 (gmt 0)

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http://techcrunch.com/2013/05/08/sogou-is-reportedly-being-courted-by-baidu-qihoo-360-and-tencent-for-an-acquisition/ [techcrunch.com]

Sogou Is Reportedly Being Courted By Baidu, Qihoo 360 And Tencent For An Acquisition

According to Sina Techís sources, Sogou, the third largest search engine in China, is currently stymied by a development bottleneck and canít grab any more market share away from Baidu and Qihoo 360. Baidu has 67.21 percent market share and Qihoo 360 holds 14.94 percent, compared to Sogouís 9.15 percent slice, according to data from CNZZ. The company has been considering a sale for the past six months, with Qihoo offering $140 million including stock and cash options, while Baidu is offering an undisclosed but higher amount of cash. Meanwhile, Tencent has entered the fray mainly because it doesnít want Qihoo 360 to get its hands on Sogou.

The sale has been held up in part because of dissension within Sogouís top ranks.