Longmaster Information & Technology Co. Ltd., a Chinese software developer founded in 1998, announced today to acquire 39.net in cash and stock. The price reportedly is RMB650 million (more than US$100).

Launched in March 2000 by China’s state-owned pharmaceutical company 999Group, 39.net was one of the first health websites in China. It was shortly after a wave of Chinese Internet companies had been founded, such as Tencent, Alibaba, Sina and NetEase, and when the Dot-com bubble about to burst.

In 2006, when 999Group was under restructuring, 39.net introduced funding from IDG Capital Partners, a China-focused investment firm, acquired the site for RMB30 million, according to reports

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Tracey Xiang

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