Today is a big day in Asia's Internet industry. Earlier today, Korea's NHN said it will buy major Japanese portal Livedoor , and now Tencent , China's largest Internet company, has announced [PDF] it plans to invest $300 million in cash into Russian investment firm Digital Sky Technologies (DST). DST itself has been in the news repeatedly over the last few months , especially after investing $200 million in Facebook and $180 million in Zynga last year. On its homepage , the firm claims its portfolio companies command 70% of all page views on the Russian speaking web. Tencent racked up $1.8 billion in revenues last year [PDF], with operating profit reaching a staggering $882 million. The Shenzhen-based company's key service is instant messaging platform QQ, which boasted no less than 523 million active users at the end of last year. Tencent also operates a web portal (QQ.com), a social network (Qzone) with nearly 400 million active users (self-reported), a gaming portal (QQ Games), a search engine (SOSO), and a number of other services. Tencent will get a 10.26% stake in DST, 0.51% of total voting power and the right to nominate "one observer" to DST's board of directors. Both companies also said they'll be entering a strategic partnership, without providing details.