Tencent revealed on Monday plans to acquire British video game company Sumo Group in a $1.27 billion deal, raising Sumo’s last closing price. The Chinese titan already owns 8.75 percent of the company’s stake, and with this purchase it will increase Sumo’s last closing price by offering a premium 43 percent rise, according to Games […]
China
Ericson reported on Tuesday a grow in its organic sales of eight percent of its market value as Geopolitical tensions grow between the Swedish company and the world’s second largest economy, following the company’s warning of its deteriorating market share in China. The telecoms vendor – one of Huawei’s biggest competitors – announced that both […]
An assemblage of China’s biggest tech companies has cooperatively signed on Tuesday an antitrust ‘self-discipline’ agreement with Beijing’s expanding regulatory pressure on Chinese tech firms. E-commerce platform Alibaba Group, Tencent, and TikTok’s parent company ByteDance are amongst 33 Chinese tech companies that have voluntarily signed an agreement of self-discipline amidst Beijing’s regulation rise on Big Tech companies. Some of China’s biggest and most dominant tech […]
The U.S. Department of Commerce sanctioned on Monday 14 Chinese tech companies over links to human rights abuses against Uyghur Muslims in Xinjiang, northwest China. Adding these firms to the Entity List restricts American companies from collaborating with any of the listed businesses without a special license. Among the listed companies is DeepGlint, a Chinese […]