Announced
Financials
Sources
Tags
software solutions
Single Bidder
Acquisition
Majority
Pending
China
mobile software
software developer
Software
Friendly
Public
Synopsis
Search giant Baidu is set to acquire a 9% stake in IReader Technology, a software developer, for $100m. As part of the agreement, IReader will license the intellectual property (IP) of its digital content to Baidu, while Baidu agreed to provide IReader with priority support in internet search, purchase and development of new content, commercialization, AI, big data, software and mobile app development. The duo will also join efforts in the areas of online education and intelligent hardware development.
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