Netease Open to Search Acquisitions

Sina Tech, 5/20/10

CEO William Ding said in an earnings call today that Chinese internet company Netease (Nasdaq: NTES) expects its search engine Youdao to become a recognized player in the industry, and will put full efforts behind the product. Ding also said Netease would not rule out acquisitions to further the development of its search engine business.

In response to questions regarding Netease's use of cash holdings, Ding said that, for businesses including search, Netease would not turn down a merger or acquisition of a suitably priced company with potential to aid Netease's growth.

Ding added that Netease is open to share buybacks if the price is right.

Keywords: William Ding Netease Internet Youdao NTES online search M&A

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