Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,369.44
    +201.37 (+0.50%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,045.46
    -449.44 (-0.64%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,536.07
    +5.47 (+0.36%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

China's Orient Hontai spends $1.4 billion for majority stake in AppLovin

(Reuters) - AppLovin, a Palo Alto-based mobile marketing platform, said Chinese private equity firm Orient Hontai Capital had bought a majority stake in the company for $1.4 billion (1.07 billion pounds). The deal with Orient Hontai, which is owned by Orient Securities Company Ltd, is expected to close in the fourth quarter of 2016, AppLovin said. CVCapital acted as financial advisor to AppLovin and Citi Orient Securities is the exclusive financial advisor to Orient Hontai Capital. AppLovin, which was founded in 2011 and has offices in San Francisco, New York, Dublin, Beijing, Tokyo, Seoul, and Berlin, said it would keep its team of 100 employees. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)