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E-commerce firm Alibaba buys Chinese chipmaker to aid internet of things

Alibaba did not disclose the terms of the acquisition - the firm's first involving a chipmaker

Reuters  |  Shanghai 

  E-commerce titan Alibaba Group Holding Ltd has bought a Chinese microchip maker to further its cloud-based "internet of things" (IoT) business, underscoring its commitment to the chip industry, an Alibaba spokeswoman said on Friday. The announcement comes days after the United States banned American firms from selling chips and other components to Chinese telecoms company ZTE Corp for seven years, a move that rekindled discussion in China about the need for self-sufficient tech supply chains. Senior Chinese officials held meetings this week with industry ...

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First Published: Sat, April 21 2018. 00:22 IST