Xunlei Announces Definitive Agreement to Acquire Kuaipan Personal

Xunlei Announces Definitive Agreement to Acquire Kuaipan Personal

SHENZHEN, China, September 2, 2014 (GLOBE NEWSWIRE) -- Xunlei Limited
("Xunlei" or the "Company") (Nasdaq:XNET), China's leading provider of
acceleration products and services, announced today that the Company, through
its PRC subsidiary, Shenzhen Xunlei Network Technology Co., Ltd. has entered
into a definitive agreement (the "Agreement") with PRC subsidiaries of
Kingsoft Corporation Limited ("Kingsoft"), namely Beijing Kingsoft Cloud
Network Technology Co., Ltd., Zhuhai Kingsoft Cloud Technology Co., Ltd., and
Beijing Kingsoft Cloud Technology Co., Ltd., to acquire Kuaipan Personal and
Kansunzi software (collectively the "Kuaipan Personal").

Pursuant to the Agreement, Xunlei will acquire business and assets in relation
to Kuaipan Personal for an aggregate cash consideration of US$33 million. The
transaction is subject to customary closing conditions and is expected to
close before the end of September of 2014. Kingsoft, through its wholly owned
subsidiary, owns approximately 12% of the outstanding share capital of the
Company.

"This transaction represents an opportunity for Xunlei to expand into the
personal storage business, " said Sean Zou, Chairman and Chief Executive
Officer of Xunlei. " It will further cement Xunlei's access to the mobile
ecosystem of Xiaomi and its users and optimize the monetization potential of
our efforts towards an efficient use of idle bandwidth and
storage."

About Xunlei

Xunlei Limited ("Xunlei") is one of the top 10 largest Chinese internet
companies, with an average of approximately 310 million monthly unique
visitors in June, 2014, according to iResearch. Xunlei is the No. 1
acceleration product provider in China as measured by market share in June
2014, according to iResearch.Xunlei operates a powerful internet platform in
China based on cloud computing to provide users with quick and easy access to
digital media content through its core products and services, Xunlei
Accelerator and the cloud acceleration subscription services. Xunlei is
increasingly extending into mobile devices in part through potentially
pre-installed acceleration products in mobile phones and to living rooms
through TV coverage. Benefitting from the large user base accumulated by
Xunlei Accelerator, Xunlei has further developed various value-added services,
including Xunlei Kankan, online game and pay per view, to meet a fuller
spectrum of its users' digital media content access and consumption needs.

SAFE HABOR STATEMENT

This press release contains statements of a forward-looking nature. These
statements are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. You can identify these forward-
looking statements by terminology such as "will," "expects," "believes,"
"anticipates," "future," "intends," "plans," "believes," "estimates" and
similar statements. Among other things, the management's quotations regarding
the Agreement and the Company's strategic and operational plans, contain
forward-looking statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the industry.
Forward-looking statements involve inherent risks and uncertainties,
including but not limited to: the Company's ability to continue to innovate
and provide attractive products and services to retain and grow its user base;
the Company's ability to keep up with technological developments and users'
changing demands in the Internet industry; the Company's ability to convert
its users into subscribers of its premium services; and the Company's ability
to deal with existing and potential copyright infringement claims and other
related claims; and the Company's ability to compete effectively. Although the
Company believes that the expectations expressed in these forward-looking
statements are reasonable, it cannot assure you that its expectations will
turn out to be correct, and investors are cautioned that actual results may
differ materially from the anticipated results. Further information regarding
risks and uncertainties faced by the Company is included in the Company's
filings with the U.S. Securities and Exchange Commission. All information
provided in this press release is as of the date of the press release, and the
Company undertakes no obligation to update any forward-looking statements to
reflect subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law.

CONTACT: Fleishman-Hillard
         Email: hkg.xnet@fleishman.com
 
Press spacebar to pause and continue. Press esc to stop.