Yahoo buy targets China
26 November 2003
The Hong Kong unit of Yahoo Inc has arranged the purchase of a Hong Kong company that develops software and systems designed to make using the internet easier for Chinese speakers.
Yahoo will pay $120 million for the Network Software Co Ltd over two years, according to a statement released by the company.
The deal, which will see the Network Software become a wholly owned subsidiary of Yahoo, means Yahoo will have to collaborate with the Beijing 3721 Technology Co, an affiliate of the purchased enterprise.
This business sells internet keywords in China which enable people to access certain websites by typing in keywords rather than domain names.
This is of obvious uses to businesses, which can use the technology to make it much easier for internet users to find - or harder to avoid - their home pages.
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