Alibaba already owned 66% of UC Web, which is the developer of the UC Browser. Now Alibaba has acquired all of UC Web. Alibaba will be paying cash and stock for UC Web in a deal that is considered one of the biggest mergers in the history of China’s Internet.
Alibaba invested in UC Web in April, according to a filing with the U.S. Securities and Exchange Commission. As of May, Alibaba owned 66% of UC Web. Some of UC Web’s other investors include Ceyuan Ventures, GGV Capital, Lei Jun, Morningside, and Nokia Growth Partners.
Alibaba is planning to go public in the U.S. within the next year or so.