News Snapshot:
Chinese internet security firm Qihoo 360 Technology announced on Monday that the company plans to invest 2.9 billion yuan ($451 million) in Hozon Auto , which also operates a car brand called NETA Auto. After this investment is completed, Qihoo 360 will indirectly hold 16.594% equity of NETA Auto, making it the second-largest shareholder. Qihoo 360’s investment is mainly based on the favorable development opportunities and market prospects of network security and intelligent networks within the automobile industry. On April 26, NETA Auto announced the launch of Round D financing, garnering about 3 billion yuan, led by Qihoo 360. On...
