Aug 14, 2013 (Wed): China’s leading internet search provider Baidu Inc. today announced that its subsidiary Baidu (Hong Kong) Limited has signed a definitive merger agreement to acquire a 100 per cent equity interest in 91 Wireless Websoft Limited, one of the leading mobile app marketplaces and mobile game operators in China. In July this year, Baidu was reported has signed a MoU with NetDragon to acquire 100 per cent of 91 Wireless at US$1.9 billion (RM6.6 billion).
After the acquisition which is expected to be completed in in the fourth quarter of 2013, 91 Wireless will become a wholly-owned subsidiary of Baidu and will continue to operate under its existing management team as an independent company.
