Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said.
Dahua, China's second-largest surveillance equipment maker, is among Chinese tech firms that Washington last year placed on a blacklist of companies it said helped Beijing monitor and detain Uighurs and other Muslim minorities. Those blacklisted cannot buy U.S. technology without U.S. government approval.E-commerce leader Alibaba and top telecommunications group China Mobile plan to jointly invest in Shenzhen-listed Dahua - which has a market capitalisation of US$10.
The agreement would give China Mobile use of Dahua's big data and cloud computing services, video surveillance equipment and Internet of Things technology, they said. The initiative could be a boon for Hangzhou-based Dahua and rival Hangzhou Hikvision Digital Technology Co Ltd, with products such as video surveillance, access control and remote image monitoring systems.
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Exclusive: Alibaba, China Mobile weigh US$443 million investment in blacklisted Dahua - sourcesAlibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan (US$443 million) in Zhejiang ...
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