Xunlei finalizes Hupu acquisition

Chinese cloud tech firm Xunlei has completed its RMB 500 million acquisition of Kuanghui, the operator of Hupu. The deal includes an upfront payment of RMB 400 million, with the remainder to be paid in two equal installments over the next two years. The acquisition brings one of China’s top sports media platforms under Xunlei’s umbrella, strengthening its digital entertainment portfolio.