Baidu Inc., owner of China’s largest search engine, agreed to buy a majority stake in the e-commerce website operator Nuomi Holdings Inc. for about $160 million.
Beijing-based Baidu will buy about 59 percent of the operator of Nuomi.com from Renren Inc., according to a PR Newswire statement. Nuomi had general merchandise sales of about $120 million in the second quarter, the companies said.
