China

Chinese Search Engine Buying Mobile App Maker For $1.9 Billion

Baidu buying 91 Wireless

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China's leading online search provider Baidu has moved to strengthen its presence among mobile phone users, unveiling that it has agreed to take over mobile app store operator 91 Wireless in a deal estimated to be worth $1.9 billion. 

In a statement on Tuesday, Nasdaq-listed Baidu announced it would acquire a 57.41 percent majority stake in the company, presently owned by Hong Kong-listed NetDragon Websoft.

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