Rumor: Baidu Accelerates Acquisition Talks with UCWeb

Sohu IT, 1/25/13

A source in the investment industry revealed recently that Chinese internet company Baidu (Nasdaq: BIDU) has stepped up talks with mobile browser developer UCWeb in hopes of making a strategic investment or acquiring a controlling stake in the company's mobile browser UC Browser. "Baidu founder and CEO Robin Li led talks with Kingsoft (3888.HK) and UCWeb himself," the source said, predicting that an agreement would be reached in the near future.

A June 2012 rumor held that Baidu intended to acquire 49% of UCWeb for USD 400 mln, but talks reportedly broke down.

Editor's Note: Tencent Tech reports that UCWeb investor and Ceyuan Ventures partner Feng Bo has denied the latest investment rumor. Neither Baidu nor UCWeb Chairman and CEO Yu Yongfu responded to requests for comment.

Editor's Note: For more background on this topic, please see "Baidu Denies Acquisition of UCWeb" MD 6/16/12 issue and "CEO: Not Selling UC Mobile" MD 6/19/12 issue.

Keywords: Feng Bo Robin Li M&A wireless Baidu mobile browser UC Browser UCWeb Ceyuan Ventures 3888.HK BIDU Yu Yongfu

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily