Following the announcement of the unaudited financial report for the second quarter ending June 30, 2020, Sogou CEO Wang Xiaochuan and CFO Zhou Yi attended the subsequent conference call.
but in a subsequent statement, CEO Wang Xiaochuan disclosed the latest progress of the deal. “Not long ago, Sogou received a preliminary non binding offer letter from Tencent,” he said. According to the letter, Tencent will acquire all of Sogou’s outstanding common shares, including Sogou’s issued common shares representing ads, for $9 per common share or ads. We are very grateful for Tencent’s recognition of our technology and innovation capabilities, for which we have set up a special committee to evaluate Tencent’s proposals. We will do our best to protect the interests of our shareholders. “