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PR Newswire
28-02-2014, 10:16 AM
China's Internet giants are doing the same as US counterparts, buying up to complete their offerings.
Three dominant ones in China are Tencent, Alibaba and Baidu. Those quality start-ups will be snapped up before they become giants...
China’s Internet giants looking for tech buys
HONG KONG — As Facebook spends US$19 billion (S$24 billion) on WhatsApp, half a world away, China’s Internet giants are in the middle of their own acquisition rush.
Tencent Holdings, Asia’s largest Internet company, Alibaba Group Holding and Baidu are seeking targets to plug gaps across their businesses as they vie for China’s 618 million Web users. Citigroup sees the trio driving Internet-related deals in China to a record this year, adding to their 44 announced acquisitions since 2012, valued at US$18.7 billion, data compiled by Bloomberg shows.
For each of the big three Chinese Internet companies, there is at least one technology provider that would fill a need. Qihoo 360 Technology, with a market value of US$13.2 billion, might appeal to Chinese e-commerce leader Alibaba because of its anti-virus software, said securities firm Guotai Junan International Holdings.
Travel site Ctrip.com International may lure Tencent, according to Riedel Research Group, while classifieds website operator 58.com could attract Baidu, the country’s largest search engine, Pacific Crest Securities said.
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http://www.todayonline.com/tech/chinas-i...-tech-buys
Three dominant ones in China are Tencent, Alibaba and Baidu. Those quality start-ups will be snapped up before they become giants...
China’s Internet giants looking for tech buys
HONG KONG — As Facebook spends US$19 billion (S$24 billion) on WhatsApp, half a world away, China’s Internet giants are in the middle of their own acquisition rush.
Tencent Holdings, Asia’s largest Internet company, Alibaba Group Holding and Baidu are seeking targets to plug gaps across their businesses as they vie for China’s 618 million Web users. Citigroup sees the trio driving Internet-related deals in China to a record this year, adding to their 44 announced acquisitions since 2012, valued at US$18.7 billion, data compiled by Bloomberg shows.
For each of the big three Chinese Internet companies, there is at least one technology provider that would fill a need. Qihoo 360 Technology, with a market value of US$13.2 billion, might appeal to Chinese e-commerce leader Alibaba because of its anti-virus software, said securities firm Guotai Junan International Holdings.
Travel site Ctrip.com International may lure Tencent, according to Riedel Research Group, while classifieds website operator 58.com could attract Baidu, the country’s largest search engine, Pacific Crest Securities said.
...
http://www.todayonline.com/tech/chinas-i...-tech-buys
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