PRC’s Shanda Games to acquire Mochi

AP , SHANGHAI

Wed, Jan 13, 2010 - Page 12

Shanda Games Ltd (盛大), a Chinese online gaming company, said yesterday it would acquire US-based Mochi Media Inc in its latest move to expand worldwide.

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

The acquisition involves US$60 million in cash and US$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 said.

“This transaction positions Shanda Games to become a truly global online game media platform,” Shanda Games CEO Diana Li (李渝) 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 has also obtained exclusive rights from South Korea’s Nexon Corp to operate the game Bubble Fighter in 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 Interactive Entertainment Ltd owns controlling stakes in both Shanda Games and Actoz.