Baidu to buy JOYY's live-streaming business in China for $3.6 billion
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FILE PHOTO: A security personnel stands guard at the opening session of Baidu's annual AI developers conference Baidu Create 2019 in Beijing, China, July 3, 2019. REUTERS/Jason Lee
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(Reuters) - Chinese search engine giant Baidu Inc (NASDAQ: BIDU) said on Monday it would acquire JOYY Inc's (NASDAQ: YY) video-based entertainment live streaming business in China for about $3.6 billion in cash.
The deal is expected to close in the first half of 2021 and would includes YY mobile app, YY.com website and PC YY, among others, the company said.
(Reporting by Ayanti Bera in Bengaluru; Editing by Arun Koyyur)
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