SUBSCRIBE: Free email newsletter

Marketing

Toggle

Article

Alibaba announces acquisition of Focus Media to tap digital marketing

Alibaba Group Holding Ltd has announced that it agrees to acquire a minority stake in China’s Focus Media Information Technology Co Ltd to tap into the digital marketing sector.

Alibaba will acquire about 6.62% in Focus Media for 9.63 billion yuan and possibly another 5.0% stake in the next 12 months, according to the company statement.

Upon completion of the deal, Alibaba will become Focus Media’s strategic investor.

The e-commerce firm will also invest US$511.1 million in an entity controlled by Focus Media’s chairman Jason Jiang, by subscribing to newly issued shares.

Focus media, which was founded in 2003, has its main business in China’s interactive digital media and online advertising sectors.

Read More News

in China by

美心集团重整月饼市场战略

美心集团与创意伙伴Turn Creative联手用一种新的方法打造了一个针对大中华地区的广告以促销其中秋美食, 从产品驱动转向品牌推广。..

Trending