Wanda Group Continues to Expand Global Presence with New Acq

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Wanda Group Continues to Expand Global Presence with New Acquisitions and Partnerships

Wanda Group, a Chinese multinational conglomerate, has been expanding its global presence through new acquisitions and partnerships in recent years. The company, which was founded in 1988 by Wang Jianlin, has become one of the largest real estate developers, cinema operators, and entertainment companies in China. Wanda Group's expansion strategy is aimed at persifying its business portfolio and increasing its global footprint.

One of the most significant acquisitions made by Wanda Group was the purchase of Legendary Entertainment in 2016. Legendary Entertainment is a Hollywood film production company that has produced blockbuster movies such as Jurassic World, The Dark Knight, and Godzilla. The acquisition of Legendary Entertainment gave Wanda Group a foothold in the U.S. entertainment industry and access to Hollywood's top talents and technologies. Wanda Group's CEO, Wang Jianlin, has stated that the company's goal is to become a \"global entertainment powerhouse.\"

Apart from the entertainment industry, Wanda Group has also been expanding its presence in the hospitality industry. In 2015, the company acquired the luxury hotel chain, The Ritz-Carlton, for $2.1 billion. The acquisition gave Wanda Group access to one of the world's most prestigious hotel brands and helped the company establish itself as a global player in the hospitality industry. In addition to The Ritz-Carlton, Wanda Group has also acquired other hotel brands such as Sunseeker and One&Only.

In 2017, Wanda Group announced a partnership with IBM to develop a cloud platform for the company's businesses. The cloud platform will enable Wanda Group to manage its operations more efficiently and improve its customer experience. The partnership with IBM is part of Wanda Group's strategy to embrace digital transformation and leverage technology to enhance its business operations.

Wanda Group has also been expanding its presence in the sports industry. In 2015, the company acquired Infront Sports & Media, a leading sports marketing company based in Switzerland. Infront Sports & Media represents some of the world's top sports events and athletes, including the FIFA World Cup, the Olympic Games, and Cristiano Ronaldo. The acquisition of Infront Sports & Media gave Wanda Group access to the global sports market and helped the company establish itself as a major player in the sports industry.

In addition to its acquisitions, Wanda Group has also been forming strategic partnerships with other companies to expand its business portfolio. In 2018, the company formed a partnership with Tencent, one of China's largest technology companies, to develop a \"smart retail\" platform. The platform integrates online and offline retail channels and uses artificial intelligence and big data analytics to provide personalized shopping experiences for customers.

In conclusion, Wanda Group's expansion strategy through new acquisitions and partnerships has been aimed at persifying its business portfolio and increasing its global footprint. The company's acquisitions in the entertainment, hospitality, sports, and technology industries have helped it establish itself as a global player in these industries. The strategic partnerships formed by Wanda Group have enabled the company to leverage the latest technologies and innovations to enhance its business operations and customer experience. As Wanda Group continues to expand its global presence, it is poised to become a major player in the global economy.