Qihoo 360 Receives Update on Going Private Transaction

BEIJING, May 13, 2016 /PRNewswire/ -- Qihoo 360 Technology Co. Ltd. (the "Company") (NYSE: QIHU), a leading Internet company in China, today announced its receipt of an update from the buyer group on its proposed going private transaction. The buyer group has informed the Company that the work towards satisfying the conditions precedent under the previously announced merger agreement is progressing as expected.

About Qihoo 360

Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) is a leading Internet company in China. The Company is also 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 massive user base primarily through online advertising and through Internet value-added services on its open platform.

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SOURCE Qihoo 360 Technology Co. Ltd.

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