M&A Deal Summary

Tencent Holdings Acquires Bitauto Holdings

On June 12, 2020, Tencent Holdings Ltd. acquired internet software and services company Bitauto Holdings Ltd. for 1.1B USD

Acquisition Highlights
  • This is Tencent Holdings’ 5th transaction in the Internet Software and Services sector.
  • This is Tencent Holdings’ 1st largest (disclosed) transaction.
  • This is Tencent Holdings’ 4th transaction in China.

M&A Deal Summary

Date 2020-06-12
Target Bitauto Holdings Ltd.
Sector Internet Software and Services
Buyer(s) Tencent Holdings Ltd.
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target

Bitauto Holdings Ltd.

Beijing, China
website
Bitauto Holdings Ltd. is a provider of internet content & marketing services, and transaction services for China's automotive industry. Bitauto's business consists of three segments: advertising and subscription business, transaction services business, and digital marketing solutions business. The company's advertising and subscription business provides a variety of advertising services to automakers through the bitauto.com website and corresponding mobile apps which provide consumers with up-to-date automobile pricing and promotional information, specifications, reviews, and consumer feedback. Bitauto also provides transaction-focused online advertisements and services for promotional activities to its business partners, including automakers, automobile dealers, auto finance partners, and insurance companies. Bitauto offers subscription services via its SaaS platform, which provides web-based and mobile-based integrated digital marketing solutions to new car automobile dealers in China. The SaaS platform enables automobile dealer subscribers to create their own online showrooms, list pricing, and promotional information, provide automobile dealer contact information, place advertisements and manage customer relationships to help them reach a broad set of purchase-minded customers and effectively market their automobiles to consumers online. Bitauto was founded in 2000 and is headquartered in Beijing, China.

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Buyer(S) 1

Buyer

Tencent Holdings Ltd.

Shenzhen, China

website


Category Company
Founded 1998
SectorInternet Software and Services
Employees85,858
Revenue 482.1B CNY (2020)
DESCRIPTION

Tencent is a provider of a comprehensive range of Internet and wireless value-added services. Through its various online platforms, including Instant Messaging QQ, web portal QQ.com, the QQ Game platform under Tencent Games, multi-media social networking service Qzone and wireless portal, Tencent services the largest online community in China and fulfills the user's needs for communication, information, entertainment and e-Commerce on the Internet. Tencent has three main streams of revenues: Internet value-added services, mobile and telecommunications value-added services and online advertising. Tencent Holdings was founded in 1998 and is based in Shenzhen, China.


DEAL STATS #
Overall 12 of 13
Sector (Internet Software and Services) 5 of 5
Type (Add-on Acquisition) 3 of 4
Country (China) 4 of 4
Year (2020) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-02 58.com, Inc.

Beijing, China

58.com Inc. operates an online marketplace serving local merchants and consumers, as measured by monthly unique visitors on both its www.58.com website and mobile applications. The company was founded in 2005 and is based in Beijing, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 Turtle Rock Studios, Inc.

Lake Forest, California, United States

Turtle Rock Studios is a game developer best known as the creators of Back 4 Blood, Evolve, and Left 4 Dead. Turtle Rock Studios is currently supporting its acclaimed co-op shooter, Back 4 Blood, in partnership with Warner Bros. Games. Turtle Rock Studios is based in Lake Forest, California.

Buy -