Did you miss a session from the Future of Work Summit? Head over to our Future of Work Summit on-demand library to stream.

Alibaba, the largest e-commerce marketplace and service provider, announced today to fully acquire AutoNavi, the Chinese map and data service provider.

In last May Alibaba bought 28 percent of AutoNavi for $294 million. This time Alibaba will pay $21 per share in cash — that’s a total of $1.045 billion.

The local lifestyle services of Taobao (an Alibaba company) have been integrated into AutoNavi’s map and navigation apps since the last deal. In the past month, the open platform of AutoNavi was merged into Aliyun, the mobile service division of Alibaba. AutoNavi is also supporting the bill-splitting feature on Alipay Wallet, Alibaba’s mobile payment and service app with precise locationing.

This story originally appeared on TechNode. Copyright 2014


VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more
Become a member