Baidu, a language internet search provider, Tencent, a provider of comprehensive internet services and JD.com, an online direct sales company, agreed to acquire Bitauto shares for $50m. "We are delighted to announce today the strengthening of our strategic partnership with JD.com and Tencent, and the establishment of a new partnership with Baidu, the leader in Chinese language online search. We are also pleased to welcome PAG, a leading regional private investment firm, as an important investor. My personal participation in this transaction is a further testament to management's strong confidence in Bitauto's future development," William Li, Bitauto CEO.