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Baidu Ready for More Deals to Keep Pace in Online Services

  • President says strategy includes partnerships, ventures
  • Baidu competing with Alibaba, Tencent in O2O business
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Baidu President Says China Is in Transition

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Baidu Inc. is pursuing acquisitions and boosting investments in supercomputing as China’s largest search-engine operator tries to gain an edge in the nation’s burgeoning online consumer market.

Baidu, which has announced more than $2.7 billion worth of deals during the past two years, is ready to do more, President Zhang Yaqin said in an interview at the World Economic Forum in Davos on Wednesday. Baidu is locked in competition with Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to buy or build Internet-based services ranging food delivery and streaming video to banking and insurance.