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Baidu to acquire 91 Wireless for USD 1.9 bln

2013-07-16 04:37:00| Telecompaper Headlines

(Telecompaper) Chinese search provider Baidu has agreed to buy 91 Wireless Websoft, a developer of online games and mobile applications in China, for a total USD 1.9 billion. Baidu has signed a MoU and aims to reach a definitive agreement by 14 August to purchase NetDragon's 57.41 percent equity interest in 91 Wireless. Until then, NetDragon is restricted from approaching or discussing with any third parties the sale of 91 Wireless. Baidu intends to purchase the remaining equity interests in 91 Wireless from other shareholders based on terms and conditions similar to those offered to NetDragon.

Tags: wireless usd acquire baidu

Category:Telecommunications

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