Alibaba buys Chinese Android app store Wandoujia

News Wireless China 7 JUL 2016
Alibaba buys Chinese Android app store Wandoujia

Alibaba has agreed to acquire Chinese Android app store Wandoujia. The app store will be incorporated into Alibaba's mobile business unit, Chia Daily reports. No financial details related to the acquisition have been disclosed. According to local press reports, the transaction price reaches USD 200 million. The acquisition is expected to help Alibaba expand its foothold in mobile app distribution.

Wandoujia was valued at USD 1 billion when it secured a round of financing led by SoftBank in 2014. Later in 2014, Alibaba reportedly offered CNY 1.5 billion to acquire the app store but the bid was rejected.

Categories:

Mobile

Companies:

Softbank,  Alibaba

Countries:

China

Tags:

IT - applications, M&A buyouts & divestments

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