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Baidu Acquires Majority Stake In Mobile App Store

Baidu agreed to pay $1.9 billion for the mobile app store 91 Wireless. China's largest search engine will take a majority stake in NetDragon Websoft Inc. (777) and all other shares. Bloomberg reports "the deal gives Baidu control over China’s most popular third-party store for smartphone apps as it tries to navigate the shift from desktop computing, where it has 82 percent of the nation's searches, to mobile devices."

Read the whole story at Bloomberg »

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