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Alibaba to Acquire Rest of UCWeb to Boost Mobile Offering

Alibaba Group Holding Ltd., China’s largest e-commerce operator, agreed to acquire the rest of UCWeb Inc. to add Internet browsers and an application store to its services for mobile devices.

The cash and stock deal will see 3,000 workers join Alibaba as the business is fully integrated, the companies said in a joint statement today, without specifying a price. Alibaba, which already had a 66 percent economic stake, said the valuation for UCWeb surpasses the $1.9 billion paid by Baidu Inc. for 91 Wireless last year as China’s biggest Internet deal.