Cheetah Mobile Buys HongKong Zoom For Total Consideration Up To $30 Mln

(RTTNews) - Cheetah Mobile Inc. (CMCM) announced Wednesday that it has reached a definitive agreement to fully acquire HongKong Zoom Interactive Network Marketing Technology Limited for a total consideration payable of up to $30 million, which includes $20 million in cash and about $4 million in Cheetah restricted Class A ordinary shares, which will be payable upon closing of the transaction.

The remainder will be paid over a two-year period contingent upon the fulfillment of certain performance-based milestones by the management of HongKong Zoom Interactive. The transaction is subject to customary closing conditions.

HongKong Zoom Interactive, together with its affiliated entities, operates a mobile advertising business. Cheetah aims to integrate HongKong Zoom Interactive's advertiser resources and proprietary technology and know-how, such as Mobile DSP and Digital Marketing Performance Analytics, to further strengthen its global mobile monetization capabilities.