Baidu to buy Chinese app store for $1.9 billion

Home Forums Baidu to buy Chinese app store for $1.9 billion

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    Technology News

    The company logo of Baidu can be seen on its headquarters located in Beijing(Reuters) – Baidu Inc, China's top search engine, plans to acquire app store 91 Wireless for $1.9 billion to strengthen its foothold in the country's highly competitive mobile computing sector. Baidu will buy a 57.4 percent stake in 91 Wireless, one of China's earliest appstores, from NetDragon Websoft Inc for $1.09 billion, and the remainder from other shareholders, both companies said on Tuesday. “It's good for Baidu because if you look at mobile, currently apps are more popular than mobile sites because Internet download speeds are slow. …

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