Three months after saying that the shutter of its Internet portal MSN China, Microsoft Corp. instead decided to sell the business to a Chinese entity headed by a former general manager of Microsoft Online.
Microsoft said Tuesday it has signed a "purchase agreement by the address" 10 August with XiChuang Technology (Beijing) Co., under which XiChuang acquire Microsoft Communications Online Network Technology (Shanghai) Co. The companies did not give released under the agreement, but said Anderson Liu, former general manager of Microsoft online, is the CEO of XiChuang.
In May, Microsoft said it plans to close the Chinese web portal as the software giant moves away from providing online content to offer services and software for Windows 10 devices.
In a press release on Tuesday, Microsoft said it is "working closely" with XiChuang advertising and search operations to ensure a smooth transition, adding that China is a strategic market that will continue to invest.
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