China (July 17, 2013): The leading Chinese language Internet search provider Baidu has signed a Memorandum of Understanding (MoU) with NetDragon to acquire 100 per cent of 91 Wireless Websoft Limited at US$1.9 billion (RM6.6 billion).
Started in 2007, 91 Wireless mainly engages in the development and operation of two leading smartphone app distribution platforms in China, namely 91 Assistant and HiMarket, community websites, 91 Launcher, 91 Panda Reader, as well as other popular products for smartphone users. NetDragon, the leading innovator and creative force in China’s online gaming and mobile Internet industries, currently owns 57.41 per cent equity interest in 91 Wireless.
