BEIJING, June 28, 2016 /PRNewswire/ -- Qihoo 360
Technology Co. Ltd. (the "Company") (NYSE: QIHU), a leading
Internet company in China, today
announced its receipt of a further update from the buyer group on
its proposed going private transaction. The buyer group has
informed the Company that they are continuing to work diligently
towards satisfying the remaining conditions precedent under the
previously announced merger agreement and currently expect the
merger to close before mid-August
2016.
About Qihoo 360
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) is a leading Internet
company in China. The Company is
also the number one provider of Internet and mobile security
products in China as measured by
its user base, according to iResearch. Qihoo 360 also provides
users with secure access points to the Internet via its market
leading web browsers and application stores. The Company has built
one of the largest open Internet platforms in China and monetizes its massive user base
primarily through online advertising and through Internet
value-added services on its open platform.
Forward-looking Statements
This press release contains statements that express the
Company's current opinions, expectations, beliefs, plans,
objectives, assumptions or projections regarding future events or
future results and therefore are, or may be deemed to be,
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminologies such as "if," "will,"
"expect" and similar statements. Forward-looking statements involve
inherent risks, uncertainties and assumptions, which include:
uncertainties as to the possibility that competing offers will be
made; the possibility that financing may not be available; the
possibility that various closing conditions for the transaction may
not be satisfied or waived; and other risks and uncertainties
discussed in documents filed with the U.S. Securities and Exchange
Commission by the Company. These forward-looking statements reflect
the Company's expectations as of the date of this press release.
You should not rely upon these forward-looking statements as
predictions of future events. The Company does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
Qihoo 360 Technology Co. Ltd.
In China:
Tel: +86-10-5878-1574
E-mail: ir@360.cn
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SOURCE Qihoo 360 Technology Co. Ltd.