Mi­crosoft sells MSN China por­tal

China Daily (Canada) - - ACROSS AMERICAS - By CHINA DAILY

Mi­crosoft has sold its MSN China por­tal to Xi Chuang Tech­nol­ogy Co Ltd, a tech­nol­ogy prod­uct and de­vel­op­ment com­pany co-founded in 2015 by MSN China’s for­mer gen­eral man­ager Liu “An­der­son” Zhenyu.

In the an­nounce­ment Mon­day, Mi­crosoft stated that the ac­qui­si­tion by Xi Chuang Tech­nol­ogy will al­low it “to be more flex­i­ble and ag­ile in meet­ing the lo­cal do­mes­tic mar­ket needs, and to con­tinue cre­at­ing value for ... re­spec­tive share­hold­ers and em­ploy­ees”.

No fi­nan­cial details on the deal were re­leased, but “the two sides will con­tinue to work closely to­gether”, Chi­nese busi­ness jour­nal Caixin re­ported.

Mi­crosoft had orig­i­nally an­nounced in May that the MSN China por­tal would close.

MSN China had found some suc­cess, and last year made pa­tent and li­cens­ing deals with smart­phone­maker Xiaomi, as well as a deal al­low­ing baidu.com to be­come the de­fault browser for Chi­nese cus­tomers of Mi­crosoft prod­ucts.

How­ever, ac­cord­ing to Caixin On­line, a mood of tougher reg­u­la­tions in China to­ward Western com­pa­nies has also made it more dif­fi­cult for them to op­er­ate there. The last two years have seen Chi­nese gov­ern­ment probes of MSN China for al­leged an­titrust and tax eva­sion ac­tions.

MSN China, which be­gan op­er­at­ing in China in 2010, also faced an up­hill bat­tle against pop­u­lar Chi­nese web por­tals, such as baidu. com or sina.com.cn. MSN’s web searches also needed to be redi­rected or al­lo­cated to lo­cal browsers, like Google and Ya­hoo be­fore it.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.