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The firm will buy a 38 percent stake in Shiji Retail Information Technology Co via its subsidiary Alibaba Investment, the data firm’s listed parent said in a filing to the Shenzhen stock exchange on Thursday. The deal is part of a “new retail” strategic cooperation, Beijing Shiji Information Technology said, referring to a shift by Alibaba and rivals to leverage big-data to shake up China’s huge but stalling retail market. Alibaba did not immediately respond to a request for comment on the announcement by Beijing Shiji Information. Beijing Shiji Information says it provides software and data systems to hotel firms such as InterContinental Hotels Group, retailers such as Starbucks Corp, and entertainment companies. Read Original Article |
