Alibaba to acquire UCWeb

News Broadband China 11 JUN 2014
Alibaba to acquire UCWeb
Chinese internet company Alibaba will acquire mobile Internet software and services provider UCWeb, Xinhua reports. The value of the acquisition was not revealed, according to the report. Alibaba currently owns 66 percent of UCWeb's stock. UCWeb's UC Browser is a mobile browser which currently has 5 million users. Founded in 2004, the UCWeb is one of China's earliest internet firms specialized in mobile services.

Categories:

Internet,  Mobile

Companies:

Alibaba

Countries:

China

Tags:

Data services, M&A buyouts & divestments

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