<article><a href="https://www.dealstreetasia.com/?s=Tencent+Holdings">Tencent Holdings</a> has invested RMB300 million ($44 million) to take 7.71 per cent shares in <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=coocaa">Coocaa</a>, a smart TV unit of Chinese TV maker <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Skyworth+Digital+Holdings">Skyworth Digital Holdings</a>, in a deal that values the company at RMB4 billion ($590 million).</article>

<a href="https://www.dealstreetasia.com/?s=Tencent+Holdings">Tencent Holdings</a> has invested RMB300 million ($44 million) to take 7.71 per cent shares in <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=coocaa">Coocaa</a>, a smart TV unit of Chinese TV maker <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Skyworth+Digital+Holdings">Skyworth Digital Holdings</a>, in a deal that values the company at RMB4 billion ($590 million).
Tencent would also make a strategic partnership by integrating its digital content with Coocaa’s smart TV and other hardware products, according to Chinese media&#8217;s reports.
Upon completion of the transition, Skyworth will hold 71.8 per cent in Coocaa. A Chinese online video platform iQiyi, which acquired 5 per cent stake for RMB150 million last September, will dilute to 4.6 per cent.
Leshi Zhixin, a direct competitor, was valued at RMB23 billion in January after its parent company LeEco received the investment of nearly $2.2 billion from new investors including Tianjin Jiarui Huixin Corporate Management Company and property developer Sunac China Holdings.
Coocaa, founded in 2006, is well-known for smart TVs and consumer electronics hardware, including games, Bluetooth earphones and remote control devices for Apple’s smart phones. It also plans to tap into the visual reality business with the investment of RMB100 billion.
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Tencent Holdings picks 7.71% in Chinese smart TV maker Coocaa for $44m

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Tencent Holdings picks 7.71% in Chinese smart TV maker Coocaa for $44m

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