Alibaba acquires UCWeb browser

Alibaba is on purchasing spree for now the company has acquired its recent investment – UCWeb browser. UCWeb will oversee the browser, mobile search, location-based services, mobile gaming, app store and mobile reader operations at Alibaba’s UC Mobile unit. Alibaba had purchased about 66 % stakes in the UCWeb before this merger was announced. As of now, UCWeb browser holds more than 50 % market share in China and Alibaba plans the expansion of its products in other regions too. LINK

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