Chinese technology giant Qihoo 360 Total Security, a well-known provider of internet security products has received a buyout offer for its public shareholders from a group led by its CEO. The offer is the biggest proposal in its time.

According to ABC news, China headquartered Qihoo 360 Technology Company Ltd. has received a buyout offer for its U.S. traded shares. This offer amounts to a massive$ 9.1 billion and has been med by a group of entrepreneurs who are being led by Qihoo's current CEO. The amount of money offered makes this proposal one of the biggest in the recent times.

Like Us on Facebook

Inspite of being headquartered in China, Qihoo had to look for money outside the homeland because the stringent laws of the financial system made it impossible for the company to get any money in its own country. As a result of this, Qihoo turned to America and other countries, seeking funds on their exchange. In fact, Qihoo was not the only company to do so as many others followed this trend.

But, of late, the Chinese government has strengthened the security measures and is scrutinizing the foreign investment in its home grown companies in greater depth. Additionally, the need to make the economy more productive has prompted the government to relax the existing financial laws, and at the same time, offer several advantages to the local firms. This has prompted a trend of buy back in order to minimize the foreign investments in the company.

The positive announcements by communist leaders have also prompted other expectations which indicate that a buy back could mean getting listed on the country's stock exchange; however, there has been no official confirmation in this regard.

As of now, Zhou Hongyi, CEO of Qihoo and the much acclaimed internet billionaire, made the buyout offer that would pay $77 per American depositary share, as confirmed by Yahoo news. Meanwhile, Qihoo's board has announced that it will form an independent panel of experts to scrutinize the proposal.

In another surprising turn of events, expectations of Chinese firms going public have raised the share prices of other technology companies. 

TagsQihoo 360 Total Security, Qihoo update, Qihoo America