Chinese search engine giant Baidu plans to buy the entire share capital of NetDragon Websoft’s subsidiary 91 Wireless for $1.9bn, making it the biggest acquisition deal in China’s internet industry if it succeeds.
NetDragon, an online game development and mobile internet business based in Fujian province, said yesterday Baidu had agreed to buy its 57.41 per cent stake in 91 Wireless for $1.09bn. Baidu has offered to buy out the other shareholders on the same terms.
91 Wireless is a leading mobile internet company in China. It developed and runs two major smart-phone app distribution platforms for iOS and Android systems on the websites Sj.91.com and apk.hiapk.com. Total downloads on the two platforms exceeded 12.9bn by the end of 2012, the company says.