Until recently, Chinese e-commerce company Alibaba owned 66 percent of UC Web, maker of the popular UC Browser. Now it’s snapped up the rest of the company.
Alibaba, which is aiming to go public, confirmed the deal in a post on its microblog, Reuters reported today. Alibaba is paying cash and stock for UC Web in what the e-commerce company described as the “biggest merger in the history of China’s Internet.”
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1489795,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,mobile,","session":"C"}']Alibaba has been diversifying its offerings recently, in cloud computing, offline retail, and video, among other markets. It has also invested in mobile messaging app company Tango.
Now it’s grabbing a larger stake in the browser wars, putting it up against tech giants Apple, Google, and Microsoft, among others.
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Alibaba most recently invested in UC Web in April, according to a filing with the U.S. Securities and Exchange Commission, and owned 66 percent of the company as of May.
Other investors include Ceyuan Ventures, GGV Capital, Lei Jun, Morningside, and Nokia Growth Partners.
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