Microsoft to Sell MSN China Web Portal
August 30 2016 - 7:20PM
Dow Jones News
By Jay Greene
Three months after saying it would shutter its MSN China web
portal, Microsoft Corp. has decided instead to sell the business to
a Chinese entity run by a former general manager at Microsoft
Online.
Microsoft said Tuesday that it entered into a "management buyout
agreement" on Aug. 10 with XiChuang Technology (Beijing) Co. under
which XiChuang would acquire Microsoft Online Network
Communications Technology (Shanghai) Co. The companies didn't
disclose the terms of the deal but said that Anderson Liu, a former
general manager of Microsoft Online, is the chief executive of
XiChuang.
In May, Microsoft said it planned to shut down the Chinese Web
portal as the software giant shifts away from providing online
content to offering software and services for Windows 10
devices.
In a press release Tuesday, Microsoft said it is "collaborating
closely" with XiChuang on search advertising and operations to
ensure a smooth transition and added that China is a strategic
market where it will continue to invest.
Write to Jay Greene at Jay.Greene@wsj.com
(END) Dow Jones Newswires
August 30, 2016 19:05 ET (23:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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