Northgate Technologies announced today the subsidiary of the company, Globe7 has signed two years strategic business contract of advertising with QQ.com owned by "Tencent" (Tencent Holdings).

The strategic alliance with Tencent will enable Globe7 to access more than 200 million active internet users or approximately 15% of the existing global internet users.

Founded in November, 2005, Globe7 HK is a 100% step down subsidiary of the company. Globe7 UK is a leading internet media company and owns web 2.0 portals such as Globe7.com, ziddu.com and egglad.com. Ziddu.com and Globe7.com are among world`s top 1,000 web portals as per alexa.com.

QQ.com is owned by Tencent Holdings (SEHK 700), a Hong Kong Stock Exchange listed company with market cap of USD 11.2 billion and more than USD 500 million annual turnover.

Shares of the company declined Rs 31.85, or 6.67%, to settle at Rs 446. The total volume of shares traded was 6,188 at the BSE.(Wednesday)