Rumor: Tencent Invests in Wi-Fi Solutions Provider 'WiWide'

Iyiou.com, 11/20/14

According to a source close to the matter, Chinese internet firm Tencent (0700.HK) and online ratings and group buy site Dianping, among several other investors, have made a RMB 9-digit investment into Shanghai-based wireless network solutions provider WiWide.

WiWide is an enterprise Wi-Fi network operator established in September 2007. The company provides Wi-Fi solutions for 9 different categories of enterprise customers including restaurants and malls. As of July 2014, the company provided Wi-Fi network solutions to 48 of the country's top 50 coffee house chains and 19 domestic airports. The company provides management solutions for tens of thousands of Wi-Fi hotspots in China at present.

Editor's Note: For more information on this topic, please see "WiWide Lands Series B Funding from Xiaomi," MD 1/06/14 and "Enterprise Wi-Fi Solutions Provider Tree Bear Secures Series A," MD 8/25/14 issues.

Keywords: M&A hardware funding wireless Tencent Wi-Fi Dianping 0700.HK WiWide wireless networking

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