The value of merger and acquisition deals in the Internet sector totaled $2.75 billion, increasing a massive 922.7 percent year-on-year, with Baidu, Alibaba and Tencent the main buyers, according to Zero2IPO Group on Tuesday.

There were 44 M&A deals in China's Internet sector in 2013, increasing 37.5 percent year-on-year.

Internet giants Baidu, Alibaba and Tencent seek M&A opportunities to integrate their upstream and downstream industry chain and obtain more consumers.

Private equity and venture capital companies invested in a number of Internet companies, and M&A deals allowed them an exit route in 2013 because of IPO stagnation.

In the Chinese merger and acquisition market last year, there were 1,094 deals with a value of $41.7 billion, and 138 cross-boarder deals, valued at $51.5 billion.