The Chinese search engine space just got a lot more interesting with Qihoo 360 reportedly purchasing Sohu's Sogou search engine.
If the report from DoNews (via The Next Web) is accurate, this deal will effectively combine the second and third largest search engines in China, which could have a significant impact on Baidu's huge market share.
The deal is rumored to be worth $1.4 billion. It is speculated that the deal will be announced soon.
Qihoo 360 launched its own search engine in August of last year, and is second only to Baidu in terms of market share in China. Purchasing Sogou would mean the company would have nearly 25 percent of the search market share compared to Baidu's eroding market share, which is now slightly under 70 percent.
While nothing has yet been confirmed, there's long been rumors that multiple tech companies were looking to buy Sogou, including Baidu. If the deal happens, it will definitely shake up the Chinese search engine market.