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The Firm is representing JPMorgan Securities Ltd. (Asia Pacific) as financial advisor to the Special Committee of the Board of Directors of Qihoo 360 Technology Co. Ltd. (NYSE: QIHU), a leading Internet company in China, in connection with Qihoo 360’s entry into a definitive agreement for a going private transaction with a consortium of investors. The investor consortium includes, among others, Citic Guoan, Golden Brick Silk Road Capital, Sequoia Capital China, Taikang Life Insurance, Ping An Insurance, Sunshine Insurance, New China Capital, Huatai Ruilian, Huasheng Capital or their affiliated entities. The all-cash transaction is valued at approximately $9.3 billion, including the redemption of approximately $1.6 billion of debt. The transaction is expected to close during the first half of 2016 and is subject to customary closing conditions, including the approval of the merger by the requisite vote of Qihoo 360 shareholders. 

Qihoo 360 is a leading Internet company in China and is the number one provider of Internet and mobile security products in China as measured by its user base, according to iResearch. Qihoo 360 also provides users with secure access points to the Internet via its market leading web browsers and application stores. The Company has built one of the largest open Internet platforms in China and monetizes its user base primarily through online advertising and through Internet value-added services on its open platform. 

The Simpson Thacher team includes Katie Sudol and Erik Ping Wang (M&A).