Skip to content
Subscriber Only

Baidu to Buy YY for $3.6 Billion to Get Into Chinese Live Video

  • It’s agreed to acquire Joyy’s Chinese-focused video service
  • The search giant is a late entrant to hot livestreaming arena
Updated on

Baidu Inc. agreed to buy Joyy Inc.’s livestreaming business for China, a deal that will mark the search engine giant’s biggest foray into the fastest-growing arena of digital video.

The company will pay about $3.6 billion in cash for Joyy’s YY Live, according to a statement. Baidu unveiled the deal after it posted revenue for the September quarter that beat analysts’ estimates.