Qihoo 360 Forms Strategic Partnership with Sungy Mobile to Target International Expansion
BEIJING, April 23, 2014 /PRNewswire/ — Qihoo 360 Technology Co. Ltd. (“Qihoo 360″ or the “Company”) (NYSE: QIHU), a leading Internet company in China, today announced that it has formed a strategic partnership with Sungy Mobile Limited (“Sungy Mobile”) (Nasdaq: GOMO), a leading provider of mobile internet products and services globally with a focus on applications and mobile platform development. Qihoo 360 will use Sungy Mobile’s international app distribution platform to introduce a wide range of mobile security and mobile utility apps, including system cleanup and battery management apps, to users in key markets, including the United States.
Sungy Mobile’s platform product, GO Launcher EX, manages apps, widgets and functions on Android smartphones and serves as users’ first entry point to their phones. It is the mobile access point from which many Android users are able to find new and innovative ways to customize their experience, download apps and interact with their mobile devices every day. It has a proven track record of successfully distributing Android apps in the international markets, and Qihoo 360 will leverage this distribution network to bring to international users its industry leading mobile security product 360 Mobile Safe, as well as other popular mobile utility apps such as system cleanup and battery management apps.
“We are extremely excited to work with Sungy Mobile through this partnership. The two companies have a lot in common in focusing on delivering the best and most innovative products and services to mobile users,” said Mr. Hongyi Zhou, Chairman and CEO of Qihoo 360, “As we have established a clear leadership position in mobile security in China, we are actively looking at opportunities to expand internationally. We believe Sungy Mobile’s success in overseas markets will add significant strategic value as we pursue international expansion. Through this partnership, more and more overseas users will be able to enjoy the same level of high quality protection and convenience provided by Qihoo 360, along with currently over 500 million Chinese smartphone users.”
Mr. Yuqiang Deng, CEO of Sungy Mobile said, “GO Launcher EX has established a strong beachhead in developed countries and regions, such as the United States and European Union. Since last year, we’ve been helping Chinese companies access international markets through our strong distribution channel. Qihoo 360 is an outstanding company and I am very happy that Sungy Mobile works together with them. Sungy Mobile will further explore international markets with more and more companies from China.”
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.
About Sungy Mobile Limited
Sungy Mobile Limited is a leading provider of mobile Internet products and services globally with a focus on applications and mobile platform development. Sungy Mobile’s platform product, GO Launcher EX, manages apps, widgets and functions on Android smartphones and serves as users’ first entry point to their phones; it is the mobile access point from which many Android users are able to find new and innovative ways to customize their experience, download apps and interact with their mobile devices every day.
This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward- looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. Among other things, the management’s quotations contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Qihoo 360 and the industry. Potential risks and uncertainties include, but are not limited to: the Company’s ability to continue to innovate and provide attractive products and services to attract and retain users; the Company’s ability to keep up with rapid changes in technologies and Internet-enabled devices; the Company’s ability to leverage its user base to attract customers for our revenue-generating services; and the Company’s dependence on online advertising for a substantial portion of our revenues; and the Company’s ability to compete effectively. All information provided in this press release is as of the date of the press release, and Qihoo 360 undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Qihoo 360 believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by Qihoo 360 is included in Qihoo 360′s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F dated April 19, 2013.
For investor and media inquiries, please contact:
Qihoo 360 Technology Co. Ltd.
Tel: +86 10-5878-1574
In the U.S.:
The Piacente Group, Inc.
Don Markley or Glenn Garmont
Tel: (212) 481-2050
SOURCE Qihoo 360 Technology Co. Ltd.