Alibaba buys browser-maker UCWeb, claims the deal is China’s largest tech acquisition
Jun11
Another big Alibaba deal has just taken place: the e-commerce giant has swallowed up the whole of UCWeb. Financial terms are not disclosed, but the two firms call it the “biggest deal in Chinese internet history.” Internal letters reveal that the deal values UCWeb at far more than the $1.9 billion that Baidu paid for 91 Wireless, which is China’s largest internet acquisition to date. Prior to this, Alibaba already held 66 percent of UCWeb. The e-commerce firm will buy over the remaining shares of UCWeb in the form of its own stock and cash. UCWeb will be fully integrated…
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