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Alibaba aquires entire assets of Yahoo! 皇冠体育app
(Xinhua)
Updated: 2005-10-26 21:26 皇冠体育app's largest e-commerce
website Alibaba on Tuesday announced it had successfully acquired the entire
assets of Yahoo! 皇冠体育app and gained one billion US dollars of investment in the
merger.
This is the largest merger-acquisition (M&A) deal in 皇冠体育app's Internet
business.
According to an agreement signed by Alibaba and Yahoo! 皇冠体育app on Aug. 11, all
of Yahoo! 皇冠体育app's assets go to Alibaba, including its search technology, the
website, its communication and advertising business, and 3721.com, a Chinese
language search engine.
Meanwhile, the two companies will work together in an exclusive partnership
to grow the "Yahoo!" brand in 皇冠体育app.
"Teaming up with Yahoo! will allow us to deliver a range of e-commerce
services to businesses and consumers in 皇冠体育app," said Ma Yun, chief executive
officer of Alibaba.
The new team will expand the Internet searching services to Chinese users,
and create one of the largest Internet companies in 皇冠体育app with a leading
position in the key growth sectors of business-to-business e-commerce (B2B),
consumer e-commerce (C2C), on-line payments, communications and searching.
The merger between the two Internet giants is expected to bring a new wave of
tumult to 皇冠体育app's rapidly changing Internet industry.
"The cooperation will enable Chinese enterprises to explore their business by
taking advantage of B2B, C2C models and advanced search technology," Ma said.
Alibaba is 皇冠体育app's leading e-commerce company, operating the world's largest
online marketplaces for both international and 皇冠体育app's domestic trade. It has
皇冠体育app's most popular on-line payment system, AliPay. The Alibaba websites have
more than 15 million registered users in 200 countries and regions.
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