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>> BAIDU Latest News

JUN 11, 2014 - TheStreet

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Alibaba Aims to Steal March on Rivals With UCWeb Purchase

NEW YORK (The Deal) -- Chinese e-commerce company Alibaba Group Holding on Wednesday made yet another acquisition as it beefs up ahead of a planned initial public offering later this year. Alibaba agreed to buy the one-third of mobile browser maker UCWeb Inc. it doesn't already own to better take on Chinese Internet rivals Tencent Holdings Inc., an Internet service provider, and search engine operator Baidu Inc. Alibaba said it would pay a mix of cash and shares in the deal but stopped short of releasing a price -- it said the valuation on the acquisition made the target worth more than ... Read More

Tags: Alibaba Aims to Steal March on Rivals With UCWeb Purchase,  Baidu Latest News