Rumor: Shanda to Acquire Hurray

Sohu IT, 5/12/09

Industry sources indicate that Chinese wireless value-added services provider and music production firm Hurray (Nasdaq: HRAY) is currently in negotiations with online game developer and operator Shanda (Nasdaq: SNDA) about a possible acquisition. Results of the negotiations are expected to be announced by the end of May and it is possible that Shanda may inject its Qidian online literature site and other assets into Hurray.

The two sides so far have not made a statement about the news.

Editor's Note: Investment group Best Prospect Overseas recently withdrew its offer to acquire 51% of Hurray's outstanding shares.

Keywords: M&A game developer HRAY Hurray investment online literature Qidian Shanda SNDA wireless online gaming SP WVAS

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