Chinese tech giant Alibaba has announced that it has signed an agreement to acquire mobile application distribution platform SnapPea. The latest acquisition by Alibaba comes less than a week after the tech giant acquired the China-based Android app store Wandoujia.

The acquisition agreement will merge SnapPea's mobile app platform into Alibaba's mobile business unit. Moreover, the latest acquisition will further broaden Alibaba's presence in the mobile market. The financial details of the acquisition have not been disclosed, according to China Tech News.

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Following the acquisition, Alibaba Mobile released a statement saying that once the merger is done, SnapPea's mobile distribution unit will maintain independent control of its development efforts.

Alibaba Mobile president Yu Yongfu said that SnapPea is a highly regarded brand in the Chinese tech market. He added that SnapPea would play a significant role in Alibaba's current expansion to the mobile distribution platform. The two companies also expressed their plans to work together in big data management and content creation market.

SnapPea was launched in April 2010 and was one of the major products developed by Innovation Works. Following its launch, SnapPea became one of the first third-party Android app distribution platforms in China and has since been downloaded more than 500 million times.

In 2015, statistics reveal that close to 50 percent of all Samsung smartphones in China used SnapPea. In the same time frame, about one-quarter of Huawei and Xiaomi devices also installed SnapPea.

In similar news, Alibaba also acquired the Android app store Wandoujia about a week ago. According to Tech Crunch, Alibaba paid around $200 to acquire the app distribution platform.

TagsAlibaba, Android, android app, Alibaba acquisition, Alibaba news, Alibaba mobile, Alibaba mobile app, Android app China, China Android