Wednesday, January 13, 2010

China's Shanda Games All Set To Acquire US Mochi Media

. Wednesday, January 13, 2010

By stockOzone team

Shanda Games Ltd., a Chinese online gaming company, said Tuesday it will acquire U.S.-based Mochi Media Inc., in its latest move to expand worldwide.

Shanghai-based Shanda Games said in a statement that it expects the acquisition of the San Francisco-based games platform to widen its global distribution.

The acquisition involves $60 million in cash and $20 million in shares, it said.

Mochi Media's network of more than 140 million monthly active users, and its more than 15,000 browser-based games, were key attractions, Shanda Games said.

"This transaction positions Shanda Games to become a truly global online game media platform," Diana Li, CEO of Shanda Games, said in the statement.

The announcement followed news last week that Shanda was acquiring Shanghai-based Goldcool Games, which operates the online multiplayer games "Hades Realm" and "Dukes and Lords."

The company also has obtained exclusive rights from South Korea's Nexon Corp. to operate the game "Bubble Fighter" in mainland China and has negotiated for exclusive rights to operate the fantasy game "Mir III" in China with co-owners Actoz Soft Co. and Wemade Entertainment Co., both also based in South Korea.

Shanda also bought rights to develop a film based on "Mir II."

Shanda Games holds a controlling share in Actoz.

Disclosure: Author does not own any of the stocks discussed here.





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