Baidu says agrees to buy Netdragon's 91 Wireless for $1.85 billion

BEIJING (Reuters) - China's Baidu Inc said on Wednesday it has agreed to buy the app store of Hong Kong-listed Netdragon Websoft Inc for $1.85 billion in cash in what would be the biggest deal in China's IT sector. Baidu's purchase of 91 Wireless, one of the country's top three app stores by monthly users, fits in with the diversification strategy of China's biggest internet services provider. Baidu said it expects to close the deal by the fourth-quarter of this year. ...

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