China’s Focus Media Sells Internet Division Allyes To Silver Lake For $124 Million

Focus Media , one of China's leading digital media groups, this morning announced that it is selling a 62% indirect equity ownership of its Internet division, Allyes , to US-based private investment firm Silver Lake . Under the terms of the agreement, Silver Lake will pay $124 million to Focus Media, in exchange for the equity ownership of Allyes. Focus Media had acquired the internet advertising service company, reportedly the largest in China, back in February 2007.