Digital Marketing Agency, Kingsoft and other Chinese tech giants have announced plan to invest nearly $300 million in data center services provider 21Vianet, in the process guaranteeing 5000 racks of data center space for Kingsoft.
Chinese software firm Kingsoft will pay $172 million for shares of 21Vianet, mobile phone vendor Xiaomi $50 million, and investment company Temasek $74 million.
According to Kingsoft, Century will provide customized services to support its cloud software business which is helping companies reduce capital expenditure by moving resources out of the private data centers onto Kingsoft's cloud. 21Vianet has been reported to build 5000 racks of data center space for Kingsoft over the next three years.
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