Alibaba Acquiring All Shares Of UCWeb, Maker Of UCBrowser

UCWeb is already partially owned by Alibaba but the company has announced that it will be acquired entirely by Alibaba soon. UCWeb is a very large company in China and its web browser, UCBrowser, is the most popular browser in that country.

Given the size of the company, Alibaba says that it is spending more on UCWeb than the $1.9 billion Baidu paid for 91 Wireless. The exact terms of the deal have not been made public.