Alibaba, the largest e-commerce marketplace and service provider, announced today to fully acquire AutoNavi Holdings Ltd.(NASDAQ:AMAP), the Chinese map and data service provider.
Update: AutoNavi announced receipt of “going private” proposal later today.
In last May Alibaba bought 28% of AutoNavi for USD 294 million. This time Alibaba will pay USD 21 for per ADS in cash – that’s a total of USD 1.045 billion.
The local lifestyle services of Taobao have been integrated into AutoNavi’s map and navigation apps since last deal. In the past January, the open platform of AutoNavi was merged into Aliyun, the mobile service division of Alibaba. AutoNavi is also supporting the bill-splitting feature on Alipay Wallet, Alibaba’s mobile payment and service app with precise locationing.