Jul. 15, 2015, 9:00 AM
- Xunlei Limited (NASDAQ:XNET) says it's finished a strategic divestment of its video streaming platform, Xunlei Kankan, via a 130M-yuan sale to Beijing Nesound International Media (about $21M).
- The move's been in the works for a few months as Xunlei looks to focus on mobile Internet and streamline operations.
- About 26M yuan of the 130M remains unpaid and will be paid to Xunlei in one year.
- Shares were inactive premarket.
Jun. 29, 2015, 12:40 PM
- With online video firm Xunlei Limited (XNET -8.3%) and hardware maker Xiaomi forming a content distribution pact, the partnership may presage a full buyout of Xunlei as Xiaomi pursues ambitions for an ecosystem, Doug Young argues.
- The two will work under the brand Xingyu, which will focus on a content distibution network targeted at gaming, mobile, video, smart hardware, and online live broadcasting. It'll use "weak network acceleration" that's already in use on Xiaomi's handsets to increase download speeds even on sparse networks.
- Xiaomi bought 30% of Xunlei a year ago, and recent trends have China's video sharing companies getting swallowed up by or selling major stakes to bigger firms.
- Xunlei's shares have doubled in the past three months, but it still has a modest $800M value -- which means Xiaomi could have the rest for an accessible $400M-$500M, Young says.
Mar. 31, 2015, 6:10 PM
- Xunlei Limited (NASDAQ:XNET) will sell its whole stake in video streaming platform Xunlei Kankan, for 130M yuan (about $21M).
- The buyer is Beijing Nesound International Media. Xunlei is making the move to streamline its non-core and unprofitable businesses as it focuses on mobile Internet from its previous PC focus.