Alibaba invests navigation solutions provider AutoNavi

Tue, May 14, 2013: AutoNavi Holdings Limited announced that it has received an investment of US$294 million (RM880.97 million) from Alibaba Group for its 28 per cent shares.

AutoNavi is the leading provider of digital map content and navigation solutions in China. They have built a mobile and Internet location-based media and e-commerce platform that enables them to offer customers and business partners a broad range of location-based solutions serving various aspects of customer needs.