Baidu Acquires 59% Interest in Renren's Nuomi for $160M in Cash
August 23, 2013 at 05:50 AM EDT
Baidu, Inc. (NASDAQ: BIDU ) ("Baidu"), the leading Chinese language Internet search provider, and Renren Inc. (NYSE: RENN ) ("Renren"), a leading real-name social networking Internet platform in China, jointly announced today that Baidu Holdings Limited, a subsidiary of Baidu, and Renren have entered into a definitive agreement