Alibaba Group Holding Ltd acquires UCWeb Inc.

Alibaba Group Holding Ltd acquired UCWeb Inc. for $1.07 billion, a transaction completed in June 2014, structured as US$458 million cash plus restricted shares and RSUs valued at approximately US$613 million.

UCWeb Inc. operates in Mobile internet, is based in China. UCWeb is a developer of mobile web browsers in China. Alibaba already held about 66% before exchanging all remaining outstanding shares in June 2014 to take full ownership, in what was then one of the largest consolidations in the Chinese internet sector.

Secure a mobile gateway (browser, search, distribution) as usage shifted from PC to mobile.

The total exchange consideration consisted of 12.3 million restricted shares and RSUs of the Company and approximately US$458 million (RMB2,826 million) in cash; the fair value of the restricted shares and RSUs approximated US$613 million as of the acquisition date.Alibaba Group FY2015 Form 20-F, business combinations note

Advisory firms were not disclosed for this transaction.

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