Chinese internet behemoth Baidu announced Tuesday it would invest 1.4 billion yuan ($200 million) into a strategic partnership with Neusoft Holdings, a well-known investment group focusing on technology and internet-based services projects.
The investment will be carried out by an internet technology arm under Baidu, for “digitalization reforms” in areas such as technology-driven city management, education, and healthcare projects. Meanwhile, Baidu’s chief technology officer Wang Haifeng will become Neusoft Holdings’ board member, the company said.
This is not Baidu’s first investment in Neusoft Holdings’ affiliate companies. Baidu earlier this year signed cooperation deals with Neusoft Co., China’s first listed software company. In March, Baidu also invested in Neusoft Medical Systems, a medical equipment manufacturer and cloud solution provider for remote medical image analysis, a new internet of things battleground where China’s medical technology companies compete in telecommunication solutions as well as medical technology including equipment development.
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