China's top surveillance equipment maker denies rumor of investment from Alibaba, China Mobile
China's second-largest surveillance equipment maker Dahua Technology Co Ltd, has denied the rumor that it will gain a 3 billion yuan (443 million U.S. dollars) investment from Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd, according to media reports.
Dahua is among Chinese tech firms that Washington last year placed on a blacklist of companies that cannot buy U.S. technology without U.S. government approval. A Reuters earlier report said that E-commerce leader Alibaba and top telecommunications group China Mobile planned to jointly invest in Shenzhen-listed Dahua – which has a market capitalization of 10.3 billion U.S. dollars – via a private share placement in the coming weeks.
The agreement would give China Mobile use of Dahua's big data and cloud computing services, video surveillance equipment and Internet of Things technology, according to Reuters.