Chinese Search Engine Buying Mobile App Maker For $1.9 Billion
Baidu buying 91 Wireless
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.