Qihoo 360 recently announced to fully acquire Fang Cloud, an enterprise document management and collaboration SaaS service provider.
After the acquisition, Fang Cloud will maintain independent development and its products will be complementary to Qihoo 360's secure cloud disc. By focusing on enterprise netdisc and collaborative office businesses, the company will upgrade its product service.
Qihoo 360 said that over recent years, Fang Cloud achieved compound annual growth rate of nearly 200% and it provided full life cycle enterprise services to more than 250,000 corporate users, covering education, real estate, retail, manufacturing, and energy industries. With Qihoo 360's security technologies, Fang Cloud will be able to continue to upgrade its distribution in information security and protection.
With the acquisition, Qihoo 360 realized an important step for its development in the enterprise office market. The company said that in the future they would continue to create complete industrial solutions to provide an efficient, reliable, and open intelligent office ecosystem.