A Google booth in Guizhou, China.

BEIJINGGoogle will invest $550 million in cash into Chinese ecommerce giant, JD.com, the companies announced on Monday.

Releasing a statement that coincided with JD.com’s annual 6/18 anniversary sale, the two firms said they would begin working together to explore the “next generation of retail infrastructure solutions” for a range of regions around the world, including Southeast Asia, the U.S. and Europe.

Although details were scant, it did reveal that a selection of high-quality JD.com products would be made available for sale through Google Shopping in multiple regions.

“This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world,” said JD.com’s chief strategy officer Jianwen Liao. “This marks an important step in the process of modernizing global retail. As we celebrate our June 18 anniversary sale, this partnership opens a new chapter in our history.”

“We are excited to partner with JD.com and explore new solutions for retail ecosystems around the world to enable helpful, personalized and frictionless shopping experiences that give consumers the power to shop wherever and however they want,” said Google chief business officer Philipp Schindler.

Google will receive 27,106,948 newly issued JD.com Class A ordinary shares at an issue price of $20.29 per share.

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