BrightWire

Exclusive Reporting

Jul 11

Source: Qihoo 360 to Acquire Sogou for $1.2 Billion In Cash and Stock Deal

By ALEX HSU

SHANGHAI | Thu Jul 11, 2013 2:00 PM EDT

(BrightWire) - A source close to the matter disclosed to BrightWire today that “Qihoo 360 has finalized the agreement to acquire majority ownership of Sogou in cash and stock deal.”

According to the source the deal values Sogou at USD 1.2 billion.

Wang Xiaochuan, CEO of Sogou, again denied that the deal has been finalized. Sogou is a subsidiary of Sohu.com Inc.

NYSE: QIHU ; NASDAQ: SOHU