Meituan and Dianping, the two leading group-buying providers, often dubbed the respective Groupon and Yelp of China, have agreed to form a joint venture with equal shares valued between $15 billion and $17 billion USD, according to statements from both companies and their investors.

The match-up marks the end of another O2O service war in China, once again bringing together the country’s two biggest tech powerhouses and investors, Tencent and Alibaba.

The deal between Ali-backed Meituan and Tencent-backed Dianping is the second landmark merger between the tech giants this year, with their respective car-hailing apps Kuiadi Dache and Didi Dache joining forces in February.

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Tracey Xiang

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