💨 Abstract

Baidu, a Chinese search engine giant, has acquired JOYY's live-streaming business in mainland China for approximately $2.1 billion. The move aims to diversify Baidu's revenue stream. The deal, initially proposed in 2020 for $3.6 billion, was previously terminated due to unmet conditions. Shares of both companies saw a positive response in premarket trading.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖