today evening, swim with dolphin browser developers baina lates information investment agreement, will take a 51% stake in the $91 million in cash for the latter. Moreover, swimming will also will provide baina lates information with $30 million in five-year zero coupon convertible bonds. The future outstanding debt in accordance with the agreement, the price can be converted into equity. When the deal was done, baina lates information equity held by the swim up to 60%.
the data shows, baina lates information was established in 2010, the main product is dolphin browser. In July 2011, the company won the sequoia capital and matrix partners A round of millions of dollars in financing. At present, the company all staff of about 300 people in Beijing, wuhan, chengdu, San Francisco, with office in Tokyo. Early in 2013 broke through 80 million. The dolphin browser user Numbers about 100 million, mainly in overseas. According to CNIT – Research report, in the first quarter of 2014, UC and dolphin browser downloads in China ranked the first and seventh respectively.
the deal is expected to be completed in August 2014, it has yet to be regulatory approval.
changyou had been playing games business, why this time have a crush on the browser?
this is associated with the company’s recent transformation strategy. On the traditional tourism market growth, hand strategy did not open the situation, swim in these two years in the dark days of differences, profits, losses and led to the executive. For this company since last year decided to platform business transformation, hopes to become a game and platform driven company at the same time, thus forming the game make money raising platform, platform running ideas of channels to push the game. To this end, in November 2013, swim to a total $50 million in cash for the kunlun 50 million d a 62.5% stake in its overseas RC voice into social communication software, at the same time release the first cross-platform free open source 3 d game engine Genesis, 3 d, to mobile game platform layout, intentions for developers from development to run the whole process of one-stop service.
at this point, changyou investing to purchase the dolphin browser share, is clearly in the above logic, also is to hold to the browser’s channel value.