B-Ray Acquires Mobile Game Developer

Shanghai Securities News, 12/25/10

Chengdu-based advertising firm B-Ray Media (600880.SH) today announced it acquired a 100% stake in Shanghai-based mobile game developer Shanghai Chenyan Information Technology from DSTF Holdings. B-Ray Media will pay between USD 12 mln and USD 40 mln depending on whether Chenyan meets certain performance targets.

B-Ray Media formally announced its entry into the online gaming market in 2009.

Chenyan specializes in designing, developing, selling and operating mobile games for the Apple iOS products, with all income derived from revenue sharing with Apple through the App Store. As of December 16, 2010, Chenyan had 64 iPhone games and 4 iPad games in the App Store.

Keywords: mobile application M&A Chenyan DSTF Holdings wireless app store Apple B-Ray Media 600880.SH mobile gaming revenue share game developer

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