Giant eyes acquisition in mobile gaming
Print Edition
GIANT Interactive intends to make “a huge volume” investment by acquiring a mobile application distribution platform firm to expand its mobile game business, the Shanghai-based online game company said yesterday.
“We are talking with one of the top-five mobile application platforms in China for possible acquisition,” said Ji Xuefeng, Giant’s president.
But Ji declined to elaborate on the acquisition whose price and financial details are still being negotiated.
Though costly to acquire, mobile application distribution platforms have huge market potential. For example, Baidu.com Inc paid US$1.9 billion to acquire the platform 91 Wireless in 2013. Giant may not have to pay so much as Baidu but the acquisition still costs “a huge volume” of investment, Ji added.
Giant felt that it was the right timing for its investment because the company completed a US$3 billion privatization plan that allows it “enough capital flow” for expansion, said Ji, who visited Fudan University to recruit more graduate students for the expanding business.
Giant is one of the top game firms to expand into the highly popular mobile business in China as people are increasingly playing games on handsets.
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