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Baidu to fully acquire Nuomi

Monday 27 January 2014 | 09:58 CET | News
Chinese search engine provider Baidu is to acquire the 41 percent stake in group-purchasing website Nuomi.com it does not already own, in an effort to extend its service to the offline realm, the Shanghai Daily reported. The deal is expected to complete in the first quarter, according to a joint statement from the two companies today. Nuomi was established in 2010. Baidu bought a 59 percent stake in Nuomi last year for USD 160 million. Nuomi was founded in 2010. Baidu has been connecting Nuomi with its services including Baidu Map to allow users easier access to group buying deals.

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Categories: Internet
Companies: Baidu
Countries: China
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