Baidu agrees to buy PPStream for US$370m

The purchased business will become a separate brand under Nasdaq-listed Baidu's own online video service, iQiyi. The transaction, which will close this quarter, will create the country's largest online video platform by number of mobile users and viewing time, according to Baidu spokesman Kaiser Kuo.

via Business feed http://www.scmp.com/business/companies/article/1232638/baidu-pay-us370m-online-video-service-ppstream