China’s largest search engine Baidu has poured RMB 1.4 billion (USD 200 million) into Neusoft Holdings, which owns Neusoft Group, China’s first software developer that was listed in the country’s stock market, 36Kr reported on Tuesday.
Baidu and Neusoft Holdings have also formed a strategic cooperation in areas including smart city development, education, and medical care.
Neusoft Holdings was established in 2011 as an investment company in Dalian, a coastal city in Northeast China’s Liaoning province, according to its website.
In addition to Neusoft Group, which was set up as early as 1999, Neusoft Holdings also controls Neusoft Medical, which provides physical examination equipment, and Neutech, which owns three colleges offering training in information technology.
The US Securities and Exchange Commission has not uploaded any filings from Baidu regarding this deal. Baidu has not responded to KrASIA‘s request for a comment.
Baidu has bought a stake in scientific Q&A platform Guokr.com, the literature app Qimao Novels, and the Quora-like Q&A platform Zhihu.
36Kr is KrASIA’s parent company.