BEIJING, Sept. 7, 2015 /PRNewswire/ -- Qihoo 360 Technology Co. Ltd. ("Qihoo 360" or the "Company") (NYSE: QIHU), a leading Internet company in China, today announced that it has issued a notice to Coolpad Group Limited ("Coolpad") (HKSE: 2369) to exercise its put option to require Coolpad to purchase the Company's entire 49.5% stake in Coolpad E-Commerce Inc., a joint venture between the Company and Coolpad set up in December 2014 to focus on mobile terminal products that are distributed through Internet as the primary channel, in accordance with the shareholders agreement relating to the joint venture.
Qihoo 360 Technology Co. Ltd. is an Internet company. The Company is primarily engaged in the operations of Internet services in the People's Republic of China. The Company's core Internet and mobile security products include 360 Safe Guard, 360 Anti-virus and 360 Mobile Safe. The Company has developed various platform products to meet a range of security-related needs of Internet users and create access points to the Internet, which include 360 browsers; 360 Personal Start-up Page and its subpages; 360 Search, and 360 Mobile Assistant. The Company's services include online advertising, which include online advertising service solutions, such as sponsored links (advertising links), on its platform products; Internet value-added services, which include games developed by third parties to users, and Other services, which include enterprise information security products and related services, such as firewalls, gateways and Internet security monitoring systems to enterprise customers.