Northgate Technologies announced today the subsidiary of the company, Globe7 has signed two years strategic business contract of advertising with QQ.com owned by `Tencent` (Tencent Holdings).

The strategic alliance with Tencent will enable Globe7 to access more than 200 million active internet users or approximately 15% of the existing global internet users.

Founded in November, 2005, Globe7 HK is a 100% step down subsidiary of the company. Globe7 UK is a leading internet media company and owns web 2.0 portals such as Globe7.com, ziddu.com and egglad.com. Ziddu.com and Globe7.com are among world`s top 1,000 web portals as per alexa.com.

QQ.com is owned by Tencent Holdings (SEHK 700), a Hong Kong Stock Exchange listed company with market cap of USD 11.2 billion and more than USD 500 million annual turnover.

Shares of the company declined Rs 31.85, or 6.67%, to settle at Rs 446. The total volume of shares traded was 6,188 at the BSE.(Wednesday)


Source URL: http://www.myiris.com/newsCentre/newsPopup.php?fileR=20080305163321121&dir=2008/03/05&secID=livenews