Oversea M&A, Baidu acquired the biggest Brazil Group Buying website Peixe Urbano

Published:2014-10-23    Source:HICG

According to the latest news on 10th Oct Beijing time, Baidu has acquired the holding shares of the biggest Brazil group buying website Peixe Urbano but the acquisition price was not disclosed yet. Actually, Baidu entered the Brazil market two years ago and this acquisition was the new launch of Baidu strategy.

Based on the transaction conditions, Baidu allows the original management team of Peixe Urbano operating flexibly under Baidu’s corporation structure. This management team will be led by the founder and the CEO of Peixe Urbano. 

Neither Baidu nor Peixe Urbano disclose the exact holding share numbers of Baidu. In July 2012 Baidu established hao 123 website in Portuguese, but the website was officially operated in Brazil in November. In July The CEO of Baidu, Li, Yanhong indicated that the total BRL120 million will be invested in Brazil in future three years.  

Acquiring Peixe Urbano will facilitate Baidu to expand the market in Brazil. According to the estimation of consultant E-bit, A.T. and Kearne, the E-business market share of Baidu in Brazil is able to increase to 18 percentage in 2016.