BEIJING, Nov. 25, 2015 /PRNewswire/ -- Qihoo 360
Technology Co. Ltd. ("Qihoo 360" or the "Company") (NYSE:
QIHU), a leading Internet company in China, today
announced that its joint venture Oriental Shiny Star Limited
("JVC") has entered into a license agreement with Smilegate
Entertainment, Inc. ("SG"), a leading Korean game developer, to
publish and operate Cross Fire 2 for a five-year term in mainland
China on an exclusive basis.
System Link Corporation
Limited is a 50-50 joint venture between Qihoo 360 and
The9 Limited (NASDAQ: NCTY), an online game developer and operator,
and indirectly owns the majority of equity interest in JVC. JVC
will pay SG a US$50 million license
fee upon signing of the license agreement, and up to an additional
US$450 million during the contract
period depending on the progress of the game development and
operating results.
Cross Fire 2 is the sequel to Cross Fire, a blockbuster
first-person-shooter PC online game in China. Both Cross Fire and Cross Fire 2 are
developed by SG. Cross Fire 2 is being developed with a new game
engine. In addition to the traditional PVP game mode available in
Cross Fire, Cross Fire 2 also provides PVE game mode to enhance
gamers' user experience.
Forward-looking Statements
This press release contains statements that express the
Company's current opinions, expectations, beliefs, plans,
objectives, assumptions or projections regarding future events or
future results and therefore are, or may be deemed to be,
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 (the "Act"). The
following cautionary statements are being made pursuant to the
provisions of the Act and with the intention of obtaining the
benefit of the "safe harbor" provisions of the Act. You can
identify these forward- looking statements by terminology such as
"will," "expects," "believes," "anticipates," "intends,"
"estimates," or in each case, their negatives or other variations
or comparable terminology. These forward-looking statements
include all matters that are not historical facts. They appear in a
number of places throughout this press release and include
statements regarding the Company's intentions, beliefs or current
expectations concerning, among other things, its results of
operations, financial condition, liquidity, prospects, growth,
strategies and the industry in which it operates.
By their nature, forward-looking statements relate to events
that involve known and unknown risks and uncertainties and are
based on current expectations, assumptions, estimates and
projections about Qihoo 360 and the industry in which it operates.
Potential risks and uncertainties include, but are not limited to,
those under "Risk Factors" in the Company's most recent annual
report on Form 20-F filed with the SEC, and the following: 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. Although the Company has based these
forward-looking statements on assumptions that it believes are
reasonable when made, it cautions you that forward-looking
statements are not guarantees of future performance and that the
Company's actual results of operations, financial condition and
liquidity, and the development of the industry in which it operates
may differ materially from those made in or suggested by the
forward-looking statements contained in this press release. In
addition, even if the Company's results of operations, financial
condition and liquidity, and the development of the industry in
which it operates, are consistent with the forward-looking
statements contained in this report, those results or developments
may not be indicative of results or developments in subsequent
periods.
Given these risks and uncertainties, you are cautioned not to
place undue reliance on these forward-looking statements. Any
forward-looking statement that the Company makes in this press
release speaks only as of the date of such statement, and the
Company undertakes no obligation to update any forward-looking
statements or to publicly announce the results of any revisions to
any of those statements to reflect future events or
developments.
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.
For investor and media inquiries, please contact:
Qihoo 360 Technology Co. Ltd.
In China:
Tel: +86 10-5878-1574
E-mail: ir@360.cn
In the U.S.:
The Piacente Group, Inc.
Don Markley
Tel: (212) 481-2050
E-mail: qihu@tpg-ir.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/qihoo-360s-joint-venture-signs-exclusive-license-agreement-for-cross-fire-2-in-china-300184420.html
SOURCE Qihoo 360 Technology Co. Ltd.