By Chris Wack
Xunlei shares were 55% higher, at $4.50, after the company said it is buying Shanghai Kuanghui Internet Technology, which operates Hupu, for a total cash consideration of CNY500 million ($68.7 million).
Hupu is a Chinese sports media and data platform.
The closing of the transaction is currently expected to occur in the first half of 2025.
Xunlei is a technology company providing distributed cloud services in China.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 27, 2025 09:38 ET (14:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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