Chinese search giant Baidu has signed a Memorandum of Understanding (MoU) on the proposed acquisition of all equity interests in Chinese mobile online gaming and mobile Internet company NetDragon’s 91 Wireless portfolio. Baidu will purchase the entire issued share capital of 91 Wireless for a total of $1.9 billion.
Baidu and NetDragon are working on the terms of the proposed acquisition.
[Image courtesy: NetDragon]