(Yicai Global) Sept. 10 -- Baidu has plowed CNY1.4 billion (USD203 million) into Dalian Neusoft Holdings as it looks to move deeper into the smart cities, education and healthcare sectors.
Baidu's Chief Technology Officer Wang Haifeng will serve as a director at the target, China Securities Journal cited the Beijing-based investor as saying, though it did not disclose how large a share it will take in Neusoft.
Neusoft is a high-tech investment firm engaged in information technology, medicine and education and with stakes in the connected car and cloud hospital sectors, among others using artificial intelligence to enhance service provision. It has a host of subsidiaries and a wealth of experience working with government and industry clients.
Baidu already invested CNY22 million (USD3.1 million) in Neusoft Medical Systems in March and cooperates with Neusoft's listed arm in smart cities and medical care.
Editor: James Boynton