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Baidu CEO:"Increasingly Keen" On Making Strategic Acquisitions

BEIJING -(Dow Jones)- Baidu Inc. (BIDU) is "increasingly keen" on making strategic acquisitions even though it has not actively pursued them in recent years, Baidu Chief Executive Robin Li said Thursday. Li, speaking to reporters at a briefing, made his comments as Baidu, one of China's biggest Internet companies, has expanded its lead over Google Inc. (GOOG) in the country with the world's most Internet users. "We are always open-minded on possible acquisition" opportunities, Li said without giving specific details. Li has said Baidu would consider acquisitions of companies that could help Baidu provide more content through its search engine. Li also said the company is working on "a number of exciting projects" to tap potential in the mobile search market, including something that will be "revolutionary," but declined to say if Baidu was working on a browser or an operating system. Mobile search revenue currently makes up only a small percentage of Baidu's revenue and the mobile Internet in China is "still very much underdeveloped," Li said. Japan is "obviously" Baidu's highest-priority overseas market currently, since Baidu's only search site in another country so far is in Japan, Li said. Baidu has said it expects substantial revenue from international operations down the road but has not said which countries it expects the revenue to come from. Baidu's revenue share in China's search market grew six percentage points in the second quarter to 70%, according to Beijing-based research firm Analysys International. Google's share fell by about the same amount to 24%. -By Owen Fletcher, Dow Jones Newswires; 8610 8400 7702; owen.fletcher@dowjones.com

Stock News for Baidu (BIDU)
DateTimeHeadline
03/23/201703:02:00Chief Scientist Resigns at Baidu -- WSJ
03/22/201708:21:00Baidu Chief Scientist Andrew Ng Exits Chinese Internet Giant...
03/09/201707:40:00WikiLeaks Dump Adds to China's Foreign-Tech Wariness
02/24/201716:52:00ADRs End Lower; Baidu, Grana y Montero Trade Actively
02/24/201706:13:33Report of Foreign Issuer (6-k)
02/23/201716:30:00Baidu Announces Fourth Quarter and Fiscal Year 2016 Results
02/21/201706:11:06Report of Foreign Issuer (6-k)
02/13/201716:40:45Amended Statement of Ownership (sc 13g/a)
02/10/201708:00:00Baidu to Report Fourth Quarter and Fiscal Year 2016 Financial...
01/24/201707:03:50Amended Statement of Ownership (sc 13g/a)
01/17/201706:20:03Report of Foreign Issuer (6-k)
01/16/201720:00:00Baidu Appoints Dr. Qi Lu as Group President and Chief Operating...
01/13/201710:41:55Amended Statement of Ownership (sc 13g/a)
12/08/201606:00:00Baidu Shared Inspur Partnership Success at Gartner Data Center...
11/25/201603:02:00Tech Companies Tap New Talent From Academia -- WSJ
11/24/201610:29:00Tech's AI Hiring Frenzy Is Spurring an Academic Brain Drain
10/28/201609:50:00U.S. Hot Stocks: Hot Stocks to Watch
10/28/201606:10:05Report of Foreign Issuer (6-k)
10/27/201616:30:00Baidu Announces Third Quarter 2016 Results
10/17/201607:00:00Baidu Adopts Xilinx to Accelerate Machine Learning Applications...

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