Alibaba has acquired mobile browser maker UC Web for an undisclosed sum. The Chinese e-commerce giant already owned 66 percent of UC Web, maker of the popular UC Browser. The deal is said to be a mixture of cash and stock. Both of the companies are touting the deal as biggest deal in Chinese internet history.
UCWeb CEO Yu Yongfu will become part of Alibaba’s new strategic decision-making committee, and all 3,000 of UCWeb’s employees are now under the Alibaba umbrella as part of the “Ali UC mobile business group”. Alibaba will oversee operations of the browser, mobile search, location-based services, mobile gaming, app store and mobile reader services.
The move highlights the comprehensive integration of Alibaba and UCWeb following Alibaba’s investment in UCWeb in 2009 and 2013, and will enable deeper synergies between the companies by marrying Alibaba’s strengths in e-commerce, cloud computing and big data technology and UCWeb’s leading market position and technology in mobile.”
said both the companies in a joint statement.
Alibaba also gains UC browser’s 500 million users via this acquisition and last year the browser surpassed Opera to be the number one mobile browser in India with 32% market share.
Via: TechCrunch