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Qihoo levels up its mobile gaming abilities with stake in Japan’s KLab

Qihoo levels up its mobile gaming abilities with stake in Japan’s KLab

Chinese search engine and web portal company Qihoo (NYSE:QIHU) has boosted its gaming capabilities by taking a stake in Japan’s KLab (TYO:3656). KLab is a mobile game developer that specializes in social gaming and is best known for its card battle game Lord of the Dragons (pictured).

Qihoo has taken a 2.56 percent stake in KLab that’s worth $5.79 million. KLab has a market cap of around $200 million on the Tokyo Stock Exchange.

Qihoo’s investment also takes the form of a partnership. KLab’s China office will now cooperate with Qihoo to produce more mobile games for the China market.

Though Qihoo is best known in China as a software maker and, more recently, a search engine, gaming has long been part of its repertoire. In Qihoo’s financial report for Q3 2013, the company says nearly $67 million of its $187.9 million in revenue for that quarter came from value-added services around its gaming platform, though I suspect much of that was from running MMO (PC) titles, not mobile games.

(Source: QQ Tech – article in Chinese)

(Editing by Terence Lee)


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