Baidu (BIDU) to Acquire JOYY's (YY) Live Streaming Business in China for $3.6 Billion
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Baidu to Acquire JOYY's Live Streaming Business in China
November 16, 2020 4:18 PM ESTBEIJING, Nov. 16, 2020 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU) ("Baidu" or the "Company"), a leading search engine, knowledge and information centered Internet platform and AI company, today announced that the Company had entered into definitive agreements with JOYY Inc. ("JOYY"). Pursuant to the agreements, Baidu will acquire JOYY's domestic video-based entertainment live streaming business in China ("YY Live"), which includes YY mobile app, YY.com website and PC YY, among others, for an aggregate purchase price of approximately US$3.6... More
