China’s Seo Service to be sold to US in US-China merger

June 17, 2021 0 Comments

China’s global seo service provider Seo is set to be acquired by a US-based technology company in a deal that could lead to the sale of the Chinese company to the US in the next year.

Seo’s shares were up about 5.4% on Monday after the deal was announced, as investors expected a potential boost in Chinese tech spending and a reduction in Chinese investment.

China is a key global tech market for the United States, but Seo has struggled in the past year due to the economic slowdown and government restrictions on foreign investment.

The deal could bring the US to its knees and could pave the way for the US government to cut tariffs on Chinese imports.

“In addition to the synergies that Seo already has with the United State, we also have the opportunity to provide a new platform for Chinese technology,” Seo chief executive officer and co-founder David Kip said in a statement.

The transaction is expected to close in the second half of 2018.

A deal between Alibaba and Seo would mean the Chinese e-commerce giant will become the US’s largest provider of seo products, a position it holds with competitors like eBay and Amazon.

The acquisition could lead Seo to offer its products through Alibaba, which owns e-tailer Taobao, according to The Wall Street Journal.

The US government has already banned the sale and use of Chinese tech products to the rest of the world.

Last year, the US banned imports of nearly all Chinese electronics and semiconductors and banned imports from the Chinese Communist Party-controlled enterprises, including state-owned enterprises.

China’s President Xi Jinping has vowed to tighten control over foreign investment and has repeatedly warned that China will crack down on overseas corporations that do business with the US.

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