In the wake of Facebook's 19B acquisition of Whatsapp, Chinese Internet giants Alibaba, Baidu and Tencent are expected to continue seeking acquisition targets to fill holes in their product offerings and capture more smartphone eyeballs in China. Since 2012, the three companies have announced 44 acquisitions valued at $18.7B. Citigroup expects acquisitions by Alibaba, Baidu and Tencent will reach a new record in 2014. Deal activity is likely to remain strong for the foreseeable future.
