Games firm invests in US platform
By Zhu Shenshen |
January 13, 2010, Wednesday
|
Print Edition
Print Edition
SHANDA Games Ltd, one of China's leading online games companies, is to invest US$80 million in acquiring a United States-based firm to expand into the overseas game market.
Shanda will acquire US-based Mochi Media Inc with US$60 million in cash and US$20 million in shares.
"This transaction positions Shanda to become a truly global online game media platform," Diana Li, CEO of Shanda Games, said yesterday in Shanghai. "Through the platform, we can export games and services into overseas markets."
The purchase is expected to be completed in the first quarter of 2010, subject to customary closing conditions, Shanda said.
Founded in 2005, Mochi Media has a global network of more than 140 million monthly active users and over 15,000 browser-based games on 40,000-plus Websites, said Jameson Hsu, co-founder and chief executive of Mochi Media.
Mochi Media's platform offers game-development products and services which enable developers to track usage analysis, distribute their games to thousands of Websites and monetize global gameplays via in-game advertising and micro-transactions.
In 2009, revenue of China's online games industry reached 27.1 billion yuan (US$3.98 billion), a 30.2 percent growth year on year, according to iResearch Inc, a local Internet consulting firm.
The top games operators in 2009 by market share were Shenzhen-based Tencent Holdings, Shanghai-based Shanda Games and Guangzhou-based NetEase.com, according to iResearch.
Shanda will acquire US-based Mochi Media Inc with US$60 million in cash and US$20 million in shares.
"This transaction positions Shanda to become a truly global online game media platform," Diana Li, CEO of Shanda Games, said yesterday in Shanghai. "Through the platform, we can export games and services into overseas markets."
The purchase is expected to be completed in the first quarter of 2010, subject to customary closing conditions, Shanda said.
Founded in 2005, Mochi Media has a global network of more than 140 million monthly active users and over 15,000 browser-based games on 40,000-plus Websites, said Jameson Hsu, co-founder and chief executive of Mochi Media.
Mochi Media's platform offers game-development products and services which enable developers to track usage analysis, distribute their games to thousands of Websites and monetize global gameplays via in-game advertising and micro-transactions.
In 2009, revenue of China's online games industry reached 27.1 billion yuan (US$3.98 billion), a 30.2 percent growth year on year, according to iResearch Inc, a local Internet consulting firm.
The top games operators in 2009 by market share were Shenzhen-based Tencent Holdings, Shanghai-based Shanda Games and Guangzhou-based NetEase.com, according to iResearch.
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