KongZhon Guild Wars 2 gold g buys Shanghai game developer for US$80 mln
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KongZhong buys Shanghai game developer for US$80 mlnPublished: 17 Dec 2009 02:17:35 PST

More From ChinaKnowledge.comChina Economy DataChina Business GuideChina DemographicChina Industrial ParksChina Financial Market Dec. 17, 2009 (China Knowledge) - KongZhong Corporation<KONG>, a leading Chinese mobile internet company, announced that it has entered into an agreement to acquire Shanghai Dacheng Network Technology Co, a developer of 3D massively multi-player online role-playing games.

KongZhong will pay up to US$80.0 million, in cash and ordinary shares, to Dacheng's shareholders, based on Dacheng's 2010 net profit after tax.

The transaction is expected to be concluded in the first quarter of 2010.

After the acquisition, KongZhong will combine its mobile game business with Dacheng's self-developed 3D game engine and game development, so as to focus on two of the fastest growing segments in China's game market, 3D MMORPGS and mobile games, said Jay Chang, CFO of Nasdaq-listed KongZhong.

Dacheng is the developer of the popular 3D online game, Loong.



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