Google, the world’s leading search engine, on May 25 sold off its approximately 2 percent stake in rival search engine Baidu.com, Reuters reports via MSN Money.The news comes from Securities and Exchange Commission (SEC) filings released Wednesday, according to Reuters.Google filed a form 144 insider stock registration with the SEC that described the sale of its 749,625 Baidu Class A ordinary shares, Reuters reports.Google couldn’t legally sell its Baidu shares after its initial public offering (IPO) in August 2005 because it was a pre-IPO insider, according to Reuters. Google spokeswoman Debbie Frost said, “We have disposed of our modest investment in Baidu. It has always been our goal to grow our own successful business in China, and we are very focused on that,” according to Reuters.On the date of the sale, Google’s stake in Baidu was worth about $63 million, and the search heavy paid $5 million for the share in June 2004, Reuters reports. Google is by far the global leader in search, but Baidu currently owns the Chinese search space. Though Google at one time was considered a potential Baidu buyer, it is now attempting to make its own name in the country with its Google.cn Chinese-language search site, Reuters reports.Related Links: Google Kiddy Porn Suit Dropped by N.Y. Politico Google to Test Display Ads on Google VideoCheck out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content brandpost Sponsored by AWS in collaboration with IBM How digital twin technology is changing complex industrial processes forever As the use cases for digital twins proliferate, it is becoming clear that data-driven enterprises with a track record of innovation stand the best chance of success. By Laura McEwan Dec 05, 2023 4 mins Digital Transformation brandpost Sponsored by AWS in collaboration with IBM Why modernising applications needs to be a ‘must’ for businesses seeking growth Around one-third of enterprises are spending heavily on application modernisation and aiming for cloud native status. The implications for corporate culture, structure and priorities will be profound. By Laura McEwan Dec 05, 2023 5 mins Digital Transformation opinion 11 ways to reduce your IT costs now Reorienting IT’s budget toward future opportunities is a big reason why CIOs should review their IT portfolios with an eye toward curbing unnecessary spending and realizing maximum value from every IT investment. By Stephanie Overby Dec 05, 2023 11 mins Budget Cloud Management IT Governance news analysis SAP faces breakdown in trust over innovation plans The company’s plan to offer future innovations in S/4HANA only to subscribers of its Rise with SAP offering is alienating customers, user conference hears. By Peter Sayer Dec 05, 2023 6 mins SAP Cloud Management Innovation Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe