Baidu buys appstore

Chinese search engine Baidu is to expand offerings with the acquisition of an appstore.

Baidu has paid NetDragon Websoft US$1.9 billion to acquire 57.4 per cent of its subsidiary 91 Wireless, which operates smartphone app distribution platforms in China including 91 Assistant and HiMarket.

The search engine company is said to be offering US$800 million to acquire the remaining 42.6 per cent stake.

The acquisition is part of Baidu’s strategy to tap China’s growing community of smartphone users, it says.

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