Rumor: Baidu to Acquire UCWeb
Jan 25, 2013 (SinoCast Daily Business Beat via COMTEX) --
A source indicated that Baidu.com, Inc (NASDAQ: BIDU) is expediting capital negotiation with UCWeb Inc., a leading mobile software provider in China, in the hope of taking a controlling stake or making strategic investment in the latter.
The news, however, was denied by Feng Bo, founding partner of Ceyuan Ventures and investor of UCWeb.
Currently, neither UCWeb CEO Yu Yongfu nor Baidu gave comments on the news.
There was rumors as early as last June that Baidu planned to acquire stake in UCWeb, but the news was denied by UCWeb CEO then.
With Baidu speeding up in mobile internet deployment, the rumor of Baidu's acquisition of UCWeb one again came out. This is because as an important entry to the mobile internet market, mobile browser makers are faced with fiercer competition. According to a mobile internet report issued by Baidu.com last year, although the market share of UC browser dropped, it still took the lead in mobile browser market by taking 28.9% of the market share.
Source: www.qq.com (January 25, 2013)
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