Baidu has announced that the Company’s majority owned subsidiary, Xiaodu Life Technology Ltd which operates the food delivery business, has completed its merger with Rajax Merger Sub Limited, which operates the food delivery business under the ele.me brand in China.
Under the agreement, Xiaodu has become a subsidiary of Rajax.
Baidu a leading Chinese language internet search provider and Rajax have also agreed to a business cooperation across a broad base of products and services following completion of the Merger.
Baidu, Inc. is the leading Chinese language Internet search provider. It aims to make a complex world simpler through technology. Its’s ADSs trade on the NASDAQ Global Select Market under the symbol “BIDU”. Currently, ten ADSs represent one Class A ordinary share.