(MENAFN) The-China based largest e-commerce company, Alibaba Group, announced purchasing UCWeb, a provider of mobile Internet software and services, Xinhua reported.
The merge is expected to be the largest in China's internet business, while the value of the deal is still unrevealed.
"The valuation of the Alibaba-UCWeb merger far exceeds the one set by Baidu, China's most popular search engine," said USWeb board chairman, who will act as president of Alibaba's future UC mobile platform.
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