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Sunday, December 7, 2014

China's Baidu makes first investment in Israeli start-up, (NASDAQ: BIDU)

China's dominant search engine Baidu Inc has made its first venture into Israel's booming start-up sector, investing $3 million in video capture firm Pixellot. Pixellot developed a system of unmanned cameras that it says can cover the entire field or court at a sporting event and automate video production for both professional broadcasters and amateur fans.Peter Fang, senior director of corporate development at Baidu, said on Sunday the Israeli technology "will revolutionise video content production" for internet users in China.Pixellot said it planned to use the funds to expand its research and development and advance global marketing and business development.

Baidu, Inc. (Baidu) is a Chinese-language Internet search provider. Shares of BIDU traded higher by 0.83% or $1.91/share to $232.72. In the past year, the shares have traded as low as $140.66 and as high as $251.99. On average, 3617980 shares of BIDU exchange hands on a given day and today's volume is recorded at 2887273.