Genimous Investment to acquire Spigot for USD 252m

Date: 25 Sep 2015

Genimous Investment announced on Thursday that it has acquired a 100% interest in Spigot, a U.S. Silicon Valley start-up, for USD 252m, as well as three other mobile internet companies, including a 100% interest in both Shanghai Falcon Network and Shanghai Yifu Information Technology, and an approximately 47% interest in AppChina.

Founded in 2011, Spigot is a multi-platform solution provider for advertisers and software developers. Its software products, developed both internally and by third parties, have been downloaded over 120 million times, and the company boasts an active user base of 6.6 million users for its plug-ins.

Founded in 2010, Falcon Network is principally engaged in internet advertising, and operates six subsidiaries. AppChina, one of Falcon Network’s subsidiaries, operates the well-known Android mobile app store – Appchina.com. Yifu Information Technology was founded in 2014 and specializes in digital integrated marketing operations.

Founded in 1996, Genimous Investment is listed on the Shenzhen-stock-exchange and is engaged in equity investment and asset management in electronic devices and high technology areas.

The acquisition of Spigot, Falcon Network, Yifu Information and AppChina will enable Genimous Investment to grow into a mobile internet company integrating a portal site with an operating platform. According to industry experts, this acquisition will boost its global expansion, and is also an important step towards reshaping China’s internet sector through overseas M&As.

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