Alibaba Group acquired Youku Todou for $4.4bn.

Alibaba Group acquired Youku Todou, a leading multi-screen entertainment and media company in China, for $4.4bn. The price represents a premium of 35.1% over the closing price of Youku Tudou’s ADSs on October 15, 2015. “We believe this combination with Alibaba maximizes value for Youku Tudou shareholders and significantly benefits our customers, users and team,” said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. “We are eager to work with Alibaba to grow our multi-screen entertainment and media ecosystem. We are confident that we will strengthen our market position and further accelerate our growth through the integration of our advertising and consumer businesses with Alibaba’s platform and Alipay services. With Alibaba’s support, Youku Tudou’s future as the leading multi-screen entertainment and media platform in China has been firmly secured.”