Tencent appoints Paul Weiss and Bakers for $448m Sogou deal

legalweek

Paul Weiss Rifkind Wharton & Garrison and Baker & McKenzie have advised as the owner of WeChat, Tencent Holdings, has taken a 35.6% stake in Chinese search engine Sogou for $448m. The deal, which is the latest in a string of mergers and acquisitions among Chinese internet companies, will see the two businesses jointly develop and cross-promote their products, with Sogou Pinyin and Sogou Search gaining access to the user base of Tencent’s online and mobile social communities.