(Yicai Global) Oct. 27 -- Baidu Inc.'s [NASDAQ:BIDU] other income in the third quarter was USD636 million (CNY4.2 billion) and it came from recognized investment income from the disposal of Baidu Waimai, the firm's third-quarter financial results show.

Ele.me announced its acquisition of Baidu Waimai on Aug. 24. After the parties completed the deal, Baidu Waimai became Ele.me's wholly-owned subsidiary. Ele.me will keep Baidu Waimai intact and its independent brand and operating system, and its personnel organization including management will remain unchanged.

The acquisition price of Baidu Waimai was CNY4.2 billion, per Baidu's financial results.

Previously, the value of deal was rumored to be USD800 million. Reports indicated Ele.me would pay USD200 million in cash and issue additional shares worth USD300 million, giving Baidu a stake of about 5 percent in Ele.me, while another USD300 million would be frozen for five years with Ele.me keeping Baidu Waimai as it was for 18 months.

Introduced in May 2014, Baidu Waimai mainly focuses on the high-end white-collar market. Its market share declined around the time of the deal. Before the acquisition,

Ele.me, Meituan.com and Baidu Waimai had stakes of 36.5 percent, 33 percent and 17.3 percent in the take-away market. Alibaba Group Holdings Ltd. [NYSE:BABA] backs Ele.me. Tencent Holdings Ltd. [HK:0700] invested in Meituan.com and Dianping.com, who merged and have a valuation of USD15 billion.

Baidu's third-quarter gross operating income was USD3.53 billion (CNY23.5 billion), of which one-sixth came from the Baidu Waimai acquisition. The third-quarter net profit was USD1.2 billion (CNY7.9 billion).