The intranet was acquired by the Japanese?

April 30th Pacific Computer Network News

According to the Nikkei News on Tuesday, Softbank Bank of Japan has reached an agreement with Thousand Oaks Interactive Group to acquire 40% of the company's shares for 40 billion yen. A spokesman for Thousand Oaks Group also confirmed today that Thousand Oaks has just completed a round of strategic financing, led by Softbank, with a total financing of 430 million US dollars, accounting for about 35% of Thousand Oaks shares.

This investment is mainly invested in the campus network of Thousand Oaks. According to the agreement reached by both parties, the funds will be paid in installments within four years. In the first year after the agreement comes into effect, Thousand Oaks will receive $654.38 billion in cash.

After this investment, Softbank Group officially became the largest shareholder of Thousand Oaks Interactive. Sun Zhengyi, president of Softbank Group, will serve as the director of Thousand Oaks Interactive and directly participate in business decisions. Chen Yizhou, founder of Thousand Oaks Group, will be the chairman and CEO of Thousand Oaks Interactive.

The student community website established by Beijing-based Thousand Oaks Interactive attracts 2 million new members to register every month. According to the latest statistics, the website has 22 million members.

In addition to the advantages of capital increase, Software Bank also plans to use this capital integration to provide online advertising and paid movie services to users of Thousand Oaks Interactive Community Network.

Japanese Internet companies are trying to gain a foothold in the rapidly changing Internet market. In addition to setting up a branch of Mixi, a major Japanese community website, in Shanghai this spring, online advertiser CyberAgent also bought part of the equity of ipartment, another community website in China. Software Bank also holds about 30% shares of Alibaba Group.