Kingsoft, a Chinese software giant, said on Monday January 19, 2015, China's Xiaomi Corp acquired 2.98% of its shares.

Xiaomi gets Kingsoft's shares of 252968057 shares at $14.93 Hong Kong from Kingsoft's shareholder shareholder holdings. The purchase amounts to about 527 million Hong Kong dollars. The market is expected to be completed on January 30.

Mr Xiaomi's voting rights rise to 29.9 percent, according to Mr. Lei Jun's management.

"This deal reflects Xiaomi's strong confidence in Kingsoft's business and potential development," said Tencent as an important shareholder and business partner.

Xiaomi announced the contribution to iqiyi (love song) of the Chinese search major Baidu (hyakudo) in November of last year (article: Xiaomi, baidu video site "iqiyi" to invest three hundred million dollars) to expand the content and the software field.

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