Cheetah Mobile Inc. and Shenzhen Tencent Computer Systems Company Limited, a subsidiary of Tencent Holdings Limited have come to an agreement.
Cheetah is leading mobile internet company that provides mission critical applications to help make the internet and mobile experience speedier, simpler, and safer for users worldwide.
“For the first nine months of 2015, the historical transaction amount for the promotion services fees payable by Tencent to Cheetah Mobile was RMB211 million,” a statement emailed to MAW reads. “As demand for Cheetah Mobile’s mobile advertising services on the Tencent Guang Dian Tong (“GDT”) advertising platform continues to grow, it is expected that the promotion service fees payable by Tencent to Cheetah Mobile will increase accordingly.”
The terms of the new supplemental agreement specifies that the annual cap for the year ending December 31, 2015 will increase from RMB250 million to RMB340 million.
“We are delighted to see our strong partnership with Tencent further expand, especially the growing demand for our mobile advertising services on the GDT ad platform,” said Sheng Fu, Cheetah Mobile’s CEO. “Our partnership with GDT has helped us extend our advertiser reach and monetization capabilities in China by allowing advertisers to place their ads on our mobile apps through GDT’s ad platform. It is truly a win-win situation for advertisers, GDT, and Cheetah Mobile.”