NQ Mobile enters agreement for FL mobile divestment

NQ Mobile Inc. a global provider of mobile internet services, has updated its FL Mobile Divestment pursuant to the agreement previously announced on August 26, 2015 between the company and Beijing Jinxin Rongda Investment Management Co., Ltd., an affiliate of Tsinghua Holdings Co., Ltd., the company said.

Shenzhen Prince, Dr. Shi, Jinxin Hengrui, Xinjiang NQ, Xinjiang Yinghe, Jinxin Haoyue, Jinxin Huatong and Tibet Zhuohua have entered into a share purchase agreement pursuant to which Shenzhen Prince will acquire the entire stake of FL Mobile for a consideration consisting of cash to the company and its newly issued common stock to other parties. Pursuant to the agreement, Shenzhen Prince will acquire 45.34 percent equity interest in FL Mobile beneficially owned by the company for a cash consideration of RMB2,267 million.

NQ Mobile Inc. (NYSE: NQ) is a global provider of mobile internet services with portfolio offerings that include mobile game publishing platforms, mobile advertising platforms, mobile entertainment applications and platforms, mobile security and productivity applications and other mobile applications.