Chinas largest search engine Baidu is planning to acquire two leading app stores in the country for US$1.9 billion. The company wants to expand its presence in the mobile Internet space. More than 10 billion apps have been downloaded through 91 Wireless Websoft, a subsidiary of Chinese online gaming developer NetDragon Websoft. The acquisition could bolster its own position in China’s competitive mobile Internet market, as China has become the world’s largest market for smartphones. The two companies will negotiate and agree on the terms of the acquisition by Aug. 14.”]
Source: https://informationsecuritybuzz.com/news/chinas-baidu-to-acquire-local-app-stores-for-1-9-billion/