China’s largest e-commerce operator, Alibaba Group Holding LTD has agreed to acquire the remaining stakes in popular browser and web search company, UCWeb. Alibaba already had 66% interest in UCWeb announced, however it was revealed that the deal is worth more than the $1.9 Billion paid by Baidu for 91 Wireless last year. The Baidu-91 wireless was the largest deal in the Chinese internet sector, which means Alibaba-UCWeb deal has surpassed the record currently making it the biggest.
As Alibaba prepares to launch its IPO in the US, UCWeb will be integrated into the company under a new business unit as UC Mobile. UC Mobile will cater for the company’s search services, location-based services, app stores, mobile gaming, internet browsers and more.
In a statement, the companies said “The move highlights the comprehensive integration of Alibaba and UCWeb following Alibaba’s investment in UCWeb in 2009 and 2013, and will enables deeper synergies between the companies by marrying Alibaba’s strengths in e commerce, cloud computing and big data technology and UCWeb’s leading market position and technology in mobile.”
UCWeb currently boats of over 500 million user base and globally one of the most popular mobile browsers around. UCWeb is currently available on most of the popular mobile OS – Windows Phone, Android, iOS, Blackberry, Java and even the faded Symbian OS. UC browsers are also popular for efficient downloading and compresses mobila data comsumption. Along with the mobile browsers, UCWeb has also developed UC9 Games mobile gaming platform and UC Application store.
Alibaba which currently has interests in mobile payment, cloud computing, e commerce, through mobile strategy is looking to increse its presence in india and other merging markets . Alibaba is looking to compete formidably with Tencent and Baidu as the demand for games, apps increases as well as platforms to deliver them.
