Alibaba to acquire a 21.73% stake in E-House for $128m.

Alibaba, a firm that provides online and mobile commerce businesses, agreed to acquire a 21.73% stake in E-House, a provider of real estate services, for $128m. Further, E-House and a wholly-owned subsidiary of Alibaba entered into an agreement which provides for strategic cooperation between the parties, including the provision by Alibaba to E-House of technical, product, data and operational support to enhance E-House’s digital and online marketing capabilities.