Baidu (BIDU) is acquiring top Chinese mobile app distributor 91 Wireless from Hong Kong-listed...
Baidu (BIDU) is acquiring top Chinese mobile app distributor 91 Wireless from Hong Kong-listed NetDragon and minority shareholders for $1.9B. 91 was estimated to host ~900K Android apps from ~93K developers (#1 in China) at the end of 2012; the company has also developed several popular apps. Baidu is paying steep multiples for rapid growth: NetDragon's mobile ops posted 2012 revenue of $46M, and Q1 revenue of $23.6M (+42% Q/Q and +219% Y/Y). The deal follows Baidu's purchases of video sites PPS and iQiyi, and is another step towards building a Google-like mobile ecosystem ... and perhaps also lowering its search dependence in the face of growing competition and mobile monetization issues. 91 competes with Qihoo's (QIHU) Mobile Assistant app store.
From other sites
The Zacks Analyst Blog Highlights: Tencent Holdings, Apple, Baidu and Alibaba Group Holding - Press Releasesat Zacks.com (Mar 25, 2015)
at 4-traders.com (Mar 23, 2015)
at Nasdaq.com (Feb 27, 2015)
at Investor's Business Daily (Feb 18, 2015)
at CNBC.com (Feb 18, 2015)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs