(Yicai Global) March 16 -- Skyworth Digital Holdings Ltd. subsidiary Shenzhen Coocaa Network Technology Co. will receive investment of more than CNY1 billion from Baidu Inc., making the internet firm its second-largest shareholder with a stake of 11 percent, the parent said in a filing with Hong Kong Exchanges and Clearing Ltd. today.

Founded in 2006, Coocaa focuses on new television products and value-added services such as content distributed via television platforms. It serves over 28 million terminal devices, making it China's biggest smart TV over-the-top (OTT) platform, said Wang Zhiguo, its chief executive.

Skyworth's Coocaa system will closely integrate with Baidu's DuerOS system, with which all Skyworth televisions will be equipped, said Jing Kun, general manager of Baidu's Duer business unit. This means the partnership is exclusive.

Baidu's iQiyi pumped CNY150 million into Coocaa in exchange for a 5 percent stake in 2016. IQiyi now owns 4.6 percent of Coocaa, per the filing.