China Tech Newsletter – Feb.23, 2016

Xiaomi has recently acquired a 65% stake in online payment solutions provider Ruifutong. Lei Jun, CEO of Xiaomi, now serves as board chairman of Ruifutong.

LeSports, the online sports content and service provider of LeEco (formerly LeTV), has secured five-year deal to live stream matches from Chinese Super League (CSL), China’s top soccer league, in Mainland China, Hong Kong, Macau, Taiwan, India, the US, Canada, Singapore, Thailand and a few other Southeast Asian countries.

The exclusive online broadcast rights for the next two seasons cost LeSports RMB2.7 billion (US$414M). The company plans to charge for live match streams in 2018.

Digital Grid (Hong Kong) Technology Co., Ltd, a subsidiary of Liaison Interactive, has participated in the Series C round of financing into US-based gaming device maker Razer, investing US$75 million for a 5% stake.

The state-owned drug-monitoring system operated by Alibaba Health has been suspended. — The Wall Street Journal

China Telecom’s 4G subscribers increased 5 million in January to 63.6 million.


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