Baidu snaps up Chinese app store

Baidu, the Chinese language internet search provider, said yesterday it has signed a $1.9bn deal to buy app store 91 Wireless, including taking a 57.4 per cent stake from NetDragon Websoft for $1.09bn. The acquisition is part of a push by Baidu to up its presence in the mobile market, provide users access to the website while on the move. It will pay $800m to owners of the remaining 42.3 per cent. “Mobile app stores are an increasingly important entry point to the mobile internet and are therefore of great strategic interest,” said Baidu spokesman Kaiser Kuo.

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