Baidu wholly acquired glutinous rice network force to promote local life services

today, Baidu and all the company announced the signing of the agreement, according to the agreement, Baidu will acquire all the sticky web of shares held by everyone, the transaction is expected to be completed in the first quarter of 2014 after the completion of the transaction, Baidu will become the single largest shareholder owned glutinous rice nets.

vice president of Baidu, glutinous rice network CEO Liu Jun said, Baidu in October last year, after the formal completion of the strategic investment in glutinous rice, buy business integration smooth, rapid growth. Baidu is optimistic about the huge market potential of local life service to the group purchase as the core, and this time we all reach an agreement, a wholly owned acquisition of glutinous rice, will lay a solid foundation for further deep integration with Baidu glutinous rice."

glutinous rice network in June 23, 2010 on the line, located in the local life guide. In August 2013, Baidu announced to the sticky web of strategic investment of $160 million, about 59% of the shares, becoming the first major shareholder of glutinous rice network, the transaction is completed by the end of October 2013.

industry insiders said that after the acquisition of glutinous rice Baidu strategic investment in a wholly-owned acquisition, indicating that the glutinous rice group business and Baidu’s core business has a significant synergistic effect. After the acquisition of the acquisition of glutinous rice and Baidu business will be included in the search, maps and other star products and offline sales channels for more depth of integration, will certainly have a huge impact on the Chinese market in 2014 to buy patterns.

Leave a Reply

Your email address will not be published. Required fields are marked *