Experience the pulse of Asia's innovation and connect with Asia's technology industry!Love our content? We love you too!Organizing an event? Share it with Asia's tech community on e27!Change the world! Over 200 tech industry jobs in Asia and growing
Investment  6, May 2014

Tencent to buy stake in China’s mapping service NavInfo

The giant online publisher will spend US$187 million for an 11.3 per cent piece of NavInfo

Last we checked, Tencent was busy buying and acquiring stakes in companies here and there. Its next target is one of the largest mapping service companies in the region, NavInfo.

The online publisher will buy 11.3 per cent stake in NavInfo for 1.17 billion yuan (US$187 million) according to a report on Bloomberg. The mapping company’s shareholder, China Siwei Surveying & Mapping Technology Corp., will transfer 78 million of its shares to Tencent.

Also Read: Alibaba buys stake in China’s equivalent of YouTube

This acts as Tencent’s reply to its rival Alibaba buying mobile mapping company AutoNavi Holdings last April, which happens to be NavInfo’s bigger competitors. That deal was mapped at US$1.5  billion and is part of a larger step for Alibaba to be an initial public offering (IPO). According to analysts, both companies are vying for the best location-based services to address both company’s weakness in that area of technology.

It’ll be interesting to see what other companies will both giants buy next to garner the attention of China’s 618 million-or-more online and smart device users.

Jonathan Toyad

Jonathan Toyad

If you want an elaborate answer on who would win in a fight between Ultraman and Godzilla, Jonathan Toyad is your man. A six-year veteran in the game journalism industry, he did words and videos for outlets such as GameSpot, GameAxis, IGN and Stuff.TV. Fears coyotes and scorched earths.

Work for a Startup

Marketing Executive
Rocket Internet
Designer cum Assistant Design Administrator
Digital Boomerang
SEO Engineer
StaffOnDemand
Systems Engineer
StaffOnDemand
Finance Director
Saena Partners