China’s Baidu to acquire 91 Wireless app store for $1.9 billion

China's Baidu to acquire 91 Wireless app store for $1.9 billion

China’s leading search provider Baidu is looking to acquire Android app store 91 Wireless for around $1.9 billion.

As I’m writing this, more than 10 billion apps have been downloaded from the 91 Wireless app distribution platforms in China, including 91 Assistant and HiMarket. Moreover, it was ranked as the top third-party app distribution platform in the country by active users and downloads, according to the iResearch 2011-2012 report.

Baidu has signed a Memorandum of Understanding (MoU) with NetDragon Websoft, an online gaming and mobile internet company, to buy its 57.41% stake in 91 Wireless, and now the plan is to acquire the rest of the company from other shareholders.

Last year, Baidu launched an Android-based mobile browser as part of its plan to reach 80% of Android users in China. With Google out of picture (cause Play Store isn’t that much used in China), they’re well position to accomplish this bold goal…

[Via: MobileWorldLive]

Back to top ▴