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Business deals

Tencent buys troubled Malaysian video streaming service iflix

Tech group aims to expand on-demand video business beyond China

Passengers are glued to their phones at Kuala Lumpur International Airport: Tencent will buy one of Malaysia's biggest streaming video companies.   © Reuters

SINGAPORE -- China's Tencent Holdings has agreed to acquire assets belonging to Malaysian video streaming platform iflix, gaining access to viewers across Southeast Asia.

Tencent will buy content, technology and resources from iflix, a spokesperson for the Chinese company said. The tech giant did not disclose the value of the deal.

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