188bet Online Sports Betting and Casino’s first cross-border merger and acquisition was completed.

Morning of January 4th,188bet Online Sports Betting and Casino announced the acquisition of Brazil’s largest shared travel company99，Many local media in Brazil said，99 Company is currently valued at approximately US billion。

Although the specific transaction amount has not been disclosed，But according to Valor, the most authoritative financial media in Brazil，188bet Online Sports Betting and Casino invested US0 million to acquire shares of the company from 99 Company investors。These investors include Riverwood Capital、 Monashees、Gao Tong Investment、 Tiger Global and SoftBank, etc.。In addition，188bet Online Sports Betting and Casino will also invest an additional US0 million，Promote 99 Company’s geographical expansion。Before this，99 Company has raised approximately 2 million dollars from 11 investors.USD 400 million。

Some analysts said，This (full) acquisition will be a bold attempt for 188bet Online Sports Betting and Casino。Before，188bet Online Sports Betting and Casino has also invested in taxi app startups，Such as Grab in Southeast Asia and Careem in the Middle East，But never acquired directly。Didi’s statement，Brazil is the fastest growing mobile Internet market in the world，This investment will further deepen the cooperation between Didi and 99。

This acquisition is also a key step in Didi’s international strategic upgrade。Previously，Didi has established partnerships with seven of the world’s largest travel companies。Its network serves more than 1,000 cities，reaches 60% of the world’s population。Founder of 188bet Online Sports Betting and Casino、CEO Cheng Weisheng:

“Internationalization is 188bet Online Sports Betting and Casino’s core development strategy。We will continue to invest in AI capability building and innovation in smart transportation solutions，Through diversified overseas operations and cooperation，Actively promote changes in the global transportation and automotive industries 。”

Public information display,99 188bet Online Sports Betting and Casino was established in 2012，is a startup 188bet Online Sports Betting and Casino focusing on urban travel in Brazil，Also Uber’s biggest competitor in Brazil。The 188bet Online Sports Betting and Casino has entered more than 400 cities in Brazil，Has more than 300,000 drivers，and 14 million registered users。

January 2017，188bet Online Sports Betting and Casino has made strategic investments in 99 companies。According to the cooperation agreement，188bet Online Sports Betting and Casino becomes a strategic investor in 99 Company，will join the board of directors of 99 Company。At that time，188bet Online Sports Betting and Casino did not announce the specific investment amount。But there are reports，188bet Online Sports Betting and Casino’s investment is approximately US0 million。At that time，99 Company also said，Will use the funds to expand to other markets in Latin America；Except Uber，Will also compete with local competitors such as EasyTaxi and Cabify。

End of last month，188bet Online Sports Betting and Casino officially announced the completion of a new round of equity financing exceeding US billion，Cumulative financing amount exceeds 20 billion US dollars。This round of financing will be used to increase investment in AI transportation technology，Accelerate internationalization and innovative businesses including new energy vehicle services。

*thisText source：Wall Street Insights, original labelTitle: "The first cross-border merger and acquisition！188bet Online Sports Betting and Casino acquires Brazil’s largest taxi-hailing app 99, valuing the latter at approximately US billion》.