June 3, 2021
Prosus, Europe’s largest tech investment company, says it has bought Stack OverFlow for $1.8 billion.
The move helps separate its holdings from markets in China.
Stack OverFlow operates a site where software engineers can share their questions and answers.
It also has an enterprise product called Stack OverFlow for Business that helps do similar things for larger organizations with a variety of topics.
Prosus is known as the largest shareholder in Chinese internet giant Tencent Holdings Ltd.
In April, Prosus sold a small portion of its stake in Tencent for $14.6 billion.
The sale reduces its stake in Tencent from 30.9% to 29.9%.
This suggests Prosus sees more long-term investment opportunities outside China and Tencent’s future prospects.
The acquisition of Stack OverFlow expands Prosus’ investments in educational technology companies, while reflecting a changing landscape, as large companies alter to support work from home policies with teams in various areas.
For more information, read the original story in ZDNet.
