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Google intends to acquire more firms in China.(MERGERS AND ACQUISITIONS)
Internet Business Newsletter, September, 2007
Internet search firm Google intends to make one or two more acquisitions of China-based firms in order to overtake Baidu.com in China. Kai-Fu Lee, president of Google China, said the company would also invest in four or five companies over the next year.
However, a Google China spokeswoman could not be reached for confirming Lee's comments. Although Baidu.com is the most popular Internet search engine in the country, Google is confident of overtaking it.
Acquisitions would play a key role in fulfilling the company's dream of being the number one search engine in China. In January, Google had bought a stake in China-based peer-to-peer sharing Web site Xunlei Networking Technology. It has also inked a mobile search contract with China Mobile...
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