Mobile browser: Alibaba acquires all of UCWeb

by bold-lichterman

He already owned 66% of the company, he has now acquired the remaining shares. Alibaba has just bought out all of UCWeb, the publisher of UCBrowser, an Internet browser for mobile phones. The Chinese e-commerce giant settled the transaction in cash, but the amount was not disclosed.

UCWeb today claims more than 500 million users worldwide and has more than 1,700 employees. Jack Ma’s firm began taking its first stakes in the company last April, according to the document filed with the SEC for its IPO.

For several months, Alibaba has increased investments to diversify its activities. After having invested $ 1.2 billion in Youku, Chinese YouTube, last April, he injected $ 250 million into Singapore Post, and opened his first data center in Hong Kong. The group is due to go public in the coming months, which could be one of the biggest deals since Facebook entered the Nasdaq in 2012.