Tencent backer Prosus sets up $1.8B acquisition of developer community Stack Overflow

  • Prosus (PROSY), one of the biggest investors in Tencent Holdings (TCEHY), is seemingly redirecting part of its Tencent stake into online tech learning via a $1.8B deal for developer community Stack Overflow.
  • It's one of the biggest acquisitions for Prosus , a holding of Naspers (NPSNY).
  • Prosus sold a small part of its stake in Tencent in April, for $14.6B, but it maintains a $200B-plus holding in the Chinese tech giant. (Naspers acquired that Tencent stake in 2001, for $34M).
  • And Prosus already has stakes in two educational tech companies, Udemy and Codecademy, but buying Stack Overflow is its first outright acquisition in the space.
  • It marks a bet that companies will continue flowing dollars toward tech to support remote working and learning longer after the COVID-19 pandemic.

    For this year Tencent Music Entertainment Group 's revenue will be around 34.71 billion USD. This is according to the average of the analysts' estimates. This is hugely more than 2020's revenue of 29.15 billion USD.

    Historical revenues and results Tencent Music Entertainment Group plus estimates 2020

    aandelenanalyse

    The analysts expect for 2021 a net profit of 4.61 billion USD. According to most of the analysts the company will have a profit per share for this book year of 2.75 USD. With this the price/earnings-ratio is 5.63.

    For this year analysts don't expect the company to pay a dividend. The average dividend yield of the restaurants & bars companies equals a moderate 1.42 percent.

    The Tencent Music Entertainment Group stock was the past 12 months quite unstable. Since last June the stock is even 26 percent higher. This year the stock price moved between 12 and 32 dollar.

    Historical stock prices Tencent Music Entertainment Group

    stock price tencentmusicentertainmentgroup

    At 16.36 the stock trades 3.85 percent higher at 15.47 USD.

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