- NQ Mobile (NQ +3.2%) says it has received 80% of the cash due to it for the $80M sale of its NationSky enterprise mobility software/services unit to NationSky founder Hou Shuli. It adds "all parties continue to work together to complete this transaction as soon as practicable."
- NQ announced the NationSky deal in August, along with a deal to sell (in tandem with other FL Mobile shareholders) the company' FL Mobile mobile gaming unit to "an independent third party" for "no less than" $626M. At the time, NQ said the NationSky sale is expected to close within 60 days. The company recently terminated a $40M deal to sell its mobile health app business.
- For reference, NQ currently has a $336M market cap. SA author GeoTeam: "If $NQ execs want investor trust, they should return cash to shareholders w/ one time cash dividend. Shareholders should relay this to [management]."