Tencent Offers $2.1 Billion for Chinese Search Giant Sogou
- The WeChat operator is bidding $9 per ADS for Sohu’s unit
- Chinese tech firms are increasingly exploring U.S. delistings
Sogou signage is displayed during the 2019 China Digital Entertainment Expo & Conference.
Photographer: Visual China Group via Getty Images/Visual China Group via Getty ImagesThis article is for subscribers only.
Tencent Holdings Ltd. has offered to buy out and take private search engine Sogou Inc. in a $2.1 billion deal, adding to a slew of Chinese technology giants seeking to delist from U.S. bourses.
Shares of the social media heavyweight climbed as much as 4.7% Tuesday, buoyed by speculation it will more closely integrate Sogou’s AI technology with its own services and devices to gain an edge on rivals like TikTok-owner ByteDance Ltd.