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Rumor: Baidu to Acquire Perfect World Literature Subsidiary

Sohu IT, 10/14/13

According to an industry insider, Chinese internet company Baidu (Nasdaq: BIDU) is currently engaged in talks with Beijing-based online game developer and operator Perfect World (Nasdaq: PWRD) regarding the purchase of Zongheng.com, a Chinese literature, comics, and animation website owned and operated by Huanxiang Zongheng Network Technologies, a subsidiary of Perfect World. Baidu will reportedly spend between RMB 300 mln and RMB 400 mln on the purchase.

Keywords: online literature Perfect World Internet Baidu PWRD Zongheng BIDU M&A

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