China's Alibaba Buys Majority Stake in Digital Marketing Group AdChina
The e-commerce giant strikes its first deal of 2015 after spending more than $6.2 billion on acquisitions last year.
Chinese e-commerce giant Alibaba said on Wednesday that it has bought a majority stake in AdChina, one of the country's leading digital marketing platforms, to boost its online and mobile marketing business.
Financial terms weren't disclosed.
Earlier this week, top Hong Kong director Wong Kar-wai said he would produce the debut movie of Alibaba Pictures, Alibaba's film unit, which will be written and directed by 30-something author Zhang Jiajia, who is hugely popular with young readers. The movie will feature actor Tony Leung.
Under the terms of the marketing deal, AdChina will work closely with Alimama, Alibaba’s online marketing technology platform, and Aliyun, Alibaba’s cloud computing unit, to develop an "end-to-end data-driven digital marketing platform that provides comprehensive online marketing services and data-marketing products to businesses, online media clients and third-party service providers."
"The rapid rise and development of the e-commerce industry in China has made the relationship between e-commerce and marketing ever-more linked," said Hua Wang, general manager of Alimama.
"AdChina’s data marketing platform and Alimama’s existing online marketing business are very complementary," Wang said.