Alisports enters joint venture to promote boxing globally

The International Boxing Association (AIBA) and the sports offshoot of Alibaba Group Holding Ltd have agreed to set up a joint venture to spark the number of boxers and promote major events worldwide by leveraging the e-commerce giant's strength in internet technology and big data.

The AIBA and Alisports announced on Monday that the joint venture aims to raise global awareness of boxing and, thus, the value of all AIBA boxing competitions.

The announcement follows a memorandum of understanding inked by the two parties in January.