Baidu has been busy. The leading Chinese-language search provider recently announced its full acquisition of 91 Wireless, believed to be the largest deal in China’s IT sector, and its large-sum notes offering.
The deals reveal the fast development of China’s internet sector, and especially the potential in the mobile internet area, a lead lawyer involved in the deal said.
Baidu announced in mid-August it had signed an agreement to acquire from NetDragon and other shareholders a 100% equity interest in 91 Wireless, a leading mobile app marketplace and mobile game operator in China. According to the agreement, the acquisition is worth US$1.85 billion.
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