Chinese ride-hailing service Didi Chuxing has agreed to buy Uber's China business, in a deal valuing the combined company at $35 billion. Apple (APPL) invested $1 billion in Didi in May. Other Didi investors include China's Alibaba (BABA) and Japan's Softbank. (CNBC)
Uber, which relies heavily on Google Maps, plans to invest $500 million into creating its own worldwide maps, a crucial step towards launching self-driving vehicles. Uber has hired former Google employees, acquired mapping companies, and forged partnerships. (FT)
Tesla (TSLA) announced plans today to buy SolarCity (SCTY) in an all-stock deal worth about $2.6 billion. Both companies are controlled by Elon Musk. SolarCity can seek other offers for 45 days.
GlaxoSmithKline (GSK) and Google-parent Alphabet's (GOOGL) life sciences unit are creating a new company to fight diseases by targeting electrical signals in the body. The companies together are contributing $715 million to the effort over seven years. (Reuters)