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Alibaba Cloud to buy cybersecurity startup Chaitin Tech

Alibaba Cloud Computing Co. will acquire Beijing-based cybersecurity startup Chaitin Tech, DealStreetAsia reported, citing a statement on Alibaba Cloud's official WeChat account.

Following the transaction's completion, Chaitin Tech will operate independently but will leverage the support of Alibaba Cloud's technology, capital and businesses to expand. Financial terms of the deal were not disclosed.

Founded in 2014, Chaitin Tech provides cybersecurity solutions to enterprises including private cloud developers, financial service companies and operators of high-traffic websites. Its backers include Chinese ride-hailing giant Didi Chuxing Technology Co. Ltd. and venture capital firm Qiming Venture Partners.

Alibaba Cloud is the cloud computing subsidiary of Alibaba Group Holding Ltd.