Baidu to acquire a 9% stake in IReader Technology for $100m.

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.