Alibaba Group and UCWeb, Chinese mobile browser and search service provider, announced today Alibaba has fully acquired the latter.

As of April 2014, Alibaba had had 66% stake in UCWeb in the form of convertible preferred shares, according to Alibaba’s SEC fillings. Alibaba joined in several rounds of funding in UCWeb from 2009 to 2013. The remaining stake are transferred with stock and cash.

UCWeb will become UC Mobile business group of Alibaba Group, and Yu Yongfu, CEO and chairman of UCWeb, will be the president of the business group and join Alibaba Group’s strategy committee (not official translation).

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com