Alibaba Health Information Technology Limited (ALBBY)
- Reuters
UPDATE 2-Alibaba Health in $1.73 bln deal for some Alibaba marketing services
Alibaba Health Information Technology said on Tuesday it had struck a HK$13.51 billion ($1.73 billion) deal to get the rights to certain services of Alibaba's marketing tool, a move it expects to improve its revenue and services to online stores. Alibaba Health said it would buy AJK Technology Holding Ltd from Taobao Holding Limited for a combination of cash and shares. Taobao is a unit of Alibaba Group Holding, the tech conglomerate that also ultimately controls Alibaba Health.
- Reuters
Alibaba Health in $1.73 billion deal for some Alibaba marketing services
Alibaba Health said it would buy AJK Technology Holding Ltd from Taobao Holding Limited for a combination of cash and shares. Taobao is a unit of Alibaba Group Holding, the tech conglomerate that also ultimately controls Alibaba Health. Alibaba Health said the deal would give it the rights to some services offered via Alibaba's digital marketing tool Alimama to online merchants of healthcare products, such as verifying the qualifications of merchants' marketing materials.
