Menu
Star Trek's Renaissance Man Leonard Nimoy, dead at 83

Leonard Nimoy, Star Trek's Renaissance Man, Dead at 83

Apple Watch Will Ditch the Car Keys and Remind Users to Exercise

Apple Watch Will Ditch the Car Keys and Remind Users to Exercise

HTC M9 goes official with 20 MP camera and new color options

HTC M9 Goes Official with 20 MP Camera and New Color Options

Huawei Unveils its Watch along with  TalkBand B2 and TalkBand N1

Huawei Unveils Its Watch along with TalkBand B2 and TalkBand N1

Samsung has raised the bar with the all new Galaxy S6 and Galaxy S6 Edge

Samsung Has Raised the Bar with the All-New Galaxy S6 and Galaxy S6 Edge

Alibaba Group to be a Major Shareholder of AutoNavi

May 10 2013, 6:17am CDT | by , in News | Technology News

Alibaba Group to be a Major Shareholder of AutoNavi

The Chinese Alibaba group has hit the jackpot. Not only has it acquired a major share in the electronic navigation tools maker AutoNavi, but as a stakeholder of 20% to 30% it has taken a huge chunk out of the firm. The graph for the Chinese is quite certainly on the rise.

The Alibaba group, which is an Internet colossus of Chinese origin, has just gained acquisition of about one third of the stakes in AutoNavi, a navigation tool-making company. The news according to Tech Sina may just be a rumor for now yet Alibaba is said to officially announce this decision on Monday. A spokesperson declined to make any further comments on the matter. What goes on within board room meetings stays within board room meetings.

Alibaba seems to have pushed out the CEO of AutoNavi, Jun Hou who was previously the major shareholder. In the capacity of the most widely employed navigation service in China, AutoNavi is the possessor of a mobile mapping app that is used by a hundred million people. And as an e-commerce elitist, Alibaba was already into the game of buying big pieces of intellectual property. With this merger in the air, it seems the deal will pay off quite handsomely.
 
When you look at the statistics of the deal it figures. Alibaba already is a force to be reckoned with. It makes more in monetary terms than Ebay and Amazon both. In fact, it wouldn’t come as much of a surprise that Alibaba equals other giants such as Facebook with its valuable assets which are worth at least a $100 billion. Alibaba is keeping mum regarding the deal though.

The main reason for this taciturn behavior in matters of speech is some of its other commitments which it has to look to on an urgent basis. Preparations for Taobao’s ten year anniversary are an alibi that Alibaba has. Alibaba’s Taobao service has made a name for itself in map navigation. With this acquisition, the service can be fortified even more. Things are looking up for Alibaba and the staff can expect raises in the future.

The science of mergers and acquisitions are a fundamental part of the business world. When companies see themselves going down they start selling their shares in a desperate bid to gain the necessary profits to restart a business afresh. But the market climate is so unpredictable that there is simply no guarantee that winners will keep winning and that the losers would lose no matter what. Rather there are a few surprises in store for those who like to make predictions. The future simply contains too many variables to be subject to planning or prophecies.

You Might Also Like

Read the Latest

Minnie Minoso Passes Away at 90

Minnie Minoso Passes Away at 90 Chicago White Sox legend, Minnie Minoso, the team's first black ballplayer and a nine-time MLB All-Star, and three...

2 hours ago

IDW's Jem and the Holograms #1: Truly, Outrageous Reboot with More Diversity

IDW's Jem and the Holograms #1: Truly, Outrageous Reboot with More Diversity The premiere issue of "Jem and the Holograms" hits the shelves in March and the creative team hitting the...

5 hours ago, 5:34pm CST

Apple launches Shot on iPhone 6 Campaign

Apple Launches Shot on iPhone 6 Campaign Just when Samsung and HTC announce new phones with 16MP and 20MP cameras respectively, Apple launches a new campaign...

8 hours ago, 3:05pm CST

Helen Slater, Dean Can, and Calista Flockhart to boost Supergirl on CBS

Helen Slater, Dean Can, and Calista Flockhart to Boost Supergirl on CBS CBS and DC reveal that Helen Slater and Dean Cain will appear this fall on "Supergirl" as Kara Danvers (...

8 hours ago, 2:43pm CST

Samsung has raised the bar with the all new Galaxy S6 and Galaxy S6 Edge

Samsung Has Raised the Bar with the All-New Galaxy S6 and Galaxy S6 Edge Samsung has officially announced the Galaxy S6 and S6 Edge with an all-new design.

11 hours ago, 12:03pm CST

HTC M9 goes official with 20 MP camera and new color options

HTC M9 Goes Official with 20 MP Camera and New Color Options The HTC M9 is finally official with the same industrial design of its predecessor.

12 hours ago, 10:37am CST

Huawei Unveils its Watch along with  TalkBand B2 and TalkBand N1

Huawei Unveils Its Watch along with TalkBand B2 and TalkBand N1 Huawei has announced its new range of wearables and smartwatch running Android Wear

13 hours ago, 10:08am CST

Is Georgia Governor Nathan Deal's wage increase for top officials really cronyism?

Is Georgia Governor Nathan Deal's wage increase for top officials really cronyism? In the 2016 fiscal year budget, Georgia Governor Nathan Deal increased top state officials wages while proposing to...

23 hours ago, 11:31pm CST

Photo credit: Gary Miller/Getty Images

Chad Johnson To 'Fashion Police'? Ex NFLer Wants Osbourne's Chair Chad "Ochocinco" Johnson is rumored to be looking for a new vocation beyond professional football: fashion...

1 day ago, 4:55pm CST

Apple's iPhone 6s to feature Force Touch this year

Apple's iPhone 6S to feature Force Touch this year This new technology is probably going to make its way to the complete iPhones line in a year

1 day ago, 11:31am CST

Google presents plan to extend headquarters at Silicon Valley

Google presents plan to extend headquarters at Silicon Valley The new construction will have movable blocks under translucent canopies

1 day ago, 11:25am CST

Wesleyan Drug Paradox: Molly Overdoses Happened Even With Stricter Campus Rules

Wesleyan Drug Paradox: Molly Overdoses Happened Even With Stricter Campus Rules In wake of a string of club overdoses at Wesleyan University, a battle wages in terms of how to address the growing...

1 day ago, 9:32am CST

Games of Thrones Season 5 Artwork Revealed

Games of Thrones Season 5 Artwork Revealed The newest poster of the show depicts Lannister on a ship with one of Khaleesi’s dragons on the horizon flying towards...

1 day ago, 8:04am CST

Kelly Osbourne leaves Fashion Police

Kelly Osbourne leaves Fashion Police Kelly Osbourne quits the E! Entertainment’s show Fashion Police after the whole Rancic-Zendaya racial comment debacle...

1 day ago, 7:51am CST

Jennifer Lawrence adores David O. Russell

Jennifer Lawrence adores David O. Russell Academy Award winning actress Jennifer Lawrence took to Facebook to eliminate the false gossip surrounding her having...

1 day ago, 6:28am CST

Thief returns Lupita Nyong'o $150K Fake Pearls Dress

Lupita Nyong'o $150K Oscar Dress found in Trash The 6000 pearls on Lupita Nyong'o's Oscar dress are not real jewels, as the thief himself returns the dress...

1 day ago, 5:34am CST

Apple Watch Will Ditch the Car Keys and Remind Users to Exercise

Apple Watch Will Ditch the Car Keys and Remind Users to Exercise Tim Cook gave an exclusive interview with Allister Heath of The Telegraph and explained how the Apple Watch could...

1 day ago, 3:06am CST

The Dress sets new Record on Buzzfeed for Most Viewed Post

The Dress sets new Record on Buzzfeed for Most Viewed Post The Dress is still the top trending hashtag on Twitter. Buzzfeed has revealed just how big The Dress phenomenon is. One...

1 day ago, 1:31am CST

Star Trek's Renaissance Man Leonard Nimoy, dead at 83

Leonard Nimoy, Star Trek's Renaissance Man, Dead at 83 Leonard Nimoy passed away on February 27, 2015, at the age of 83 as the world mourns the loss of a beloved entertainer.

2 days ago, 11:18pm CST

Apple might increase RAM in upcoming mobile devices

Apple might double the RAM in iPhone 6S According to analysts, the demand for increased RAM might take a toll by the second half of this year

2 days ago, 11:48am CST

Sprint Promo shows the Samsung Galaxy S6 and S6 Edge

Sprint Promo shows the Samsung Galaxy S6 and S6 Edge The image comes from a verified Sprint employee

2 days ago, 11:33am CST

Google reverses decision to ban Explicit content On Blogger

Google reverses decision to ban Explicit content On Blogger Users protested the search giant's decision to block all sexually explicit content on its blogging platform

2 days ago, 11:26am CST

Swiss luxury watch makers respond to the Apple Watch

Swiss luxury watch makers respond to the Apple Watch Luxury watch companies, Alpina and Frederique Constant, are going to turn their traditional watches into mechanical...

2 days ago, 11:20am CST

MWC 2015 Preview

MWC 2015 Preview The Mobile World Congress is the most prominent event in the Mobile Industry. The Mobile World Congress is the World’s...

2 days ago, 10:53am CST

Samsung Galaxy S6 to ship with earbuds similar to Apple earpods

Samsung Galaxy S6 to ship with earbuds similar to Apple earpods The earbuds feature the same flat tangle-free cord design and a remote

2 days ago, 9:37am CST

Apple Watch Will Be Pricier Than The Average Smart Watch Sold In 2014

Apple Watch Will Be Pricier Than The Average Smart Watch Sold In 2014 Priced at $349 (starting price), the Apple Watch is positively more expensive than the rest of the smart watches sold...

2 days ago, 9:21am CST

$100 million Deal for Keeping Up with Kardashians

$100 million Deal for Keeping Up with Kardashians The Kardashian clan reportedly signed a $100 million deal with E! for another four years of the Keeping Up with...

2 days ago, 9:17am CST

Photo credit: Larry W. Smith/Stringer/Getty Images

Missouri Mass Shooting: 9 Dead In Suspected Murder-Suicide Police in a rural part of Missouri are investigating nine deaths believed to be the result of a murder-suicide. The...

2 days ago, 9:08am CST

Sex Box comes to US

Sex Box comes to US The show is about couples facing intimacy issues in their relationships which are resolved by specialists and the...

2 days ago, 9:04am CST

8000 Years Ago Ancient Britons traded in Wheat

Ancient Britons traded in Wheat 8000 Years Ago Recently 8000 years old wheat DNA samples were found at an ancient site in Britain indicating the presence of Bread...

2 days ago, 8:39am CST

Comments

blog comments powered by Disqus