Bigo, a social video livestreaming platform, has been acquired by its existing shareholder YY for more than $1.45bn in a deal that also provided exits for Ping An and Bertelsmann.

Video-based social media platform YY today completed the acquisition of one of its portfolio companies, Singapore-based social video livestreaming platform developer Bigo, for more than $1.45bn. YY paid approximately $343m in cash, with the remainder made up of shares. YY had owned approximately 31.7% of Bigo ahead of the acquisition. Founded in 2015, Bigo’s flagship…

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