Technology

Tencent buys Google-backed social-networking company

(Agencies)
Updated: 2010-08-24 15:44
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Tencent Holdings Ltd, China's largest Internet company, has bought Chinese social networking company Comsenz for more than $60 million, the China Business News reported on Tuesday.

Comsenz announced the takeover in a statement on its website. The Beijing-based company is backed by Google Inc, Sequoia Capital and Morningside Ventures.

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The report said the deal was worth more than $60 million, citing a source familiar with the matter.

Tencent, China's No 1 online game operator and largest instant messaging provider, could  be on the look out for more acquisitions as it seeks to expand its dominance beyond China. Earlier this year it bought a 10-percent stake in Russian Facebook investor Digital Sky Technologies (DST) for $300 million, according to Reuters.